NuVasive, Inc. (NUVA) Expected to Announce Quarterly Sales of $258.85 Million
Analysts expect that NuVasive, Inc. (NASDAQ:NUVA) will report sales of $258.85 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for NuVasive’s earnings. The lowest sales estimate is $255.70 million and the highest is $262.30 million. NuVasive posted sales of $239.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 24th.
On average, analysts expect that NuVasive will report full year sales of $258.85 million for the current financial year, with estimates ranging from $1.06 billion to $1.07 billion. For the next year, analysts forecast that the company will post sales of $1.16 billion per share, with estimates ranging from $1.15 billion to $1.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover NuVasive.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share.
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of NuVasive in a research note on Friday, July 28th. Royal Bank Of Canada raised their target price on shares of NuVasive from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, June 6th. Barclays PLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of NuVasive in a research note on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $90.00 target price on shares of NuVasive in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $79.00 target price on shares of NuVasive in a research note on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $81.18.
In other NuVasive news, Director Lesley H. Howe sold 3,970 shares of NuVasive stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $64.64, for a total transaction of $256,620.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Michael Leddy purchased 7,850 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $63.88 per share, for a total transaction of $501,458.00. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC boosted its position in shares of NuVasive by 205.8% in the first quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock valued at $18,636,000 after buying an additional 167,950 shares in the last quarter. Diversified Trust Co boosted its position in shares of NuVasive by 5.5% in the second quarter. Diversified Trust Co now owns 6,595 shares of the medical device company’s stock valued at $507,000 after buying an additional 345 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of NuVasive by 23.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 38,539 shares of the medical device company’s stock valued at $2,964,000 after buying an additional 7,412 shares in the last quarter. Keybank National Association OH boosted its position in shares of NuVasive by 0.7% in the first quarter. Keybank National Association OH now owns 12,667 shares of the medical device company’s stock valued at $946,000 after buying an additional 86 shares in the last quarter. Finally, Geneva Advisors LLC boosted its position in shares of NuVasive by 3.3% in the second quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock valued at $1,336,000 after buying an additional 555 shares in the last quarter.
Shares of NuVasive (NUVA) opened at 61.20 on Tuesday. NuVasive has a 52 week low of $56.70 and a 52 week high of $81.68. The company has a market capitalization of $3.11 billion, a PE ratio of 96.38 and a beta of 1.06. The firm’s 50-day moving average is $70.61 and its 200 day moving average is $73.61.
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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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