Leerink Swann Comments on NuVasive, Inc.’s Q3 2017 Earnings (NUVA)
NuVasive, Inc. (NASDAQ:NUVA) – Stock analysts at Leerink Swann lowered their Q3 2017 earnings per share (EPS) estimates for shares of NuVasive in a research note issued to investors on Wednesday. Leerink Swann analyst R. Newitter now anticipates that the medical device company will earn $0.44 per share for the quarter, down from their prior estimate of $0.47. Leerink Swann currently has a “Buy” rating and a $74.00 target price on the stock. Leerink Swann also issued estimates for NuVasive’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $1.95 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.45 EPS and FY2019 earnings at $3.04 EPS.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. NuVasive’s quarterly revenue was up 10.3% compared to the same quarter last year.
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A number of other analysts also recently weighed in on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $83.00 price target on shares of NuVasive in a report on Monday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 price target on shares of NuVasive in a report on Friday, September 8th. BTIG Research began coverage on shares of NuVasive in a report on Thursday, September 7th. They set a “buy” rating and a $82.00 price target for the company. Needham & Company LLC downgraded shares of NuVasive from a “hold” rating to an “underperform” rating in a report on Monday, August 28th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $90.00 price target on shares of NuVasive in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. NuVasive presently has an average rating of “Buy” and a consensus target price of $79.92.
NuVasive (NASDAQ:NUVA) opened at 53.67 on Thursday. NuVasive has a 1-year low of $52.85 and a 1-year high of $81.68. The company has a market cap of $2.73 billion, a PE ratio of 84.52 and a beta of 1.08. The stock has a 50 day moving average of $62.55 and a 200-day moving average of $71.98.
Several hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc raised its stake in shares of NuVasive by 5.2% during the second quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock valued at $5,722,000 after acquiring an additional 3,696 shares during the last quarter. Broadfin Capital LLC bought a new position in shares of NuVasive during the second quarter valued at $4,300,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NuVasive during the second quarter valued at $501,000. Public Employees Retirement System of Ohio raised its stake in shares of NuVasive by 68.3% during the second quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after acquiring an additional 46,805 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of NuVasive by 4.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock valued at $5,435,000 after acquiring an additional 2,922 shares during the last quarter.
In other NuVasive news, CEO Gregory T. Lucier purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $66.22 per share, with a total value of $331,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory T. Lucier purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. Insiders have bought 14,850 shares of company stock valued at $955,598 in the last ninety days. Insiders own 1.20% of the company’s stock.
NuVasive Company Profile
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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