$265.36 Million in Sales Expected for NuVasive, Inc. (NUVA) This Quarter
Wall Street analysts expect NuVasive, Inc. (NASDAQ:NUVA) to announce $265.36 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for NuVasive’s earnings, with the highest sales estimate coming in at $269.98 million and the lowest estimate coming in at $262.02 million. NuVasive posted sales of $247.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The company is scheduled to issue its next earnings results on Tuesday, October 23rd.
On average, analysts expect that NuVasive will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts anticipate that the business will report sales of $1.16 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NuVasive.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, July 31st. The medical device company reported $0.58 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. The business had revenue of $281.56 million during the quarter, compared to analyst estimates of $276.05 million.
Shares of NASDAQ:NUVA traded down $0.34 during trading hours on Friday, hitting $69.62. 28,744 shares of the company’s stock traded hands, compared to its average volume of 775,228. NuVasive has a 1 year low of $44.62 and a 1 year high of $70.02. The firm has a market capitalization of $3.32 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58.
A number of large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in NuVasive by 4.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 19,899 shares of the medical device company’s stock worth $1,037,000 after buying an additional 889 shares in the last quarter. Arizona State Retirement System raised its stake in NuVasive by 2.6% in the second quarter. Arizona State Retirement System now owns 35,589 shares of the medical device company’s stock worth $1,855,000 after buying an additional 903 shares in the last quarter. Strs Ohio raised its stake in NuVasive by 45.5% in the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock worth $166,000 after buying an additional 1,000 shares in the last quarter. Amalgamated Bank raised its stake in NuVasive by 14.9% in the second quarter. Amalgamated Bank now owns 8,384 shares of the medical device company’s stock worth $437,000 after buying an additional 1,086 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in NuVasive by 2.3% in the second quarter. Legal & General Group Plc now owns 53,030 shares of the medical device company’s stock worth $2,764,000 after buying an additional 1,202 shares in the last quarter.
NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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