NuVasive (NASDAQ:NUVA) Issues FY 2021 Earnings Guidance

NuVasive (NASDAQ:NUVA) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.730-$1.830 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.230. The company issued revenue guidance of $1.13 billion-$1.14 billion, compared to the consensus revenue estimate of $1.19 billion.

Shares of NASDAQ NUVA traded up $0.12 during midday trading on Thursday, reaching $54.13. 523,055 shares of the company traded hands, compared to its average volume of 706,235. NuVasive has a 52 week low of $44.80 and a 52 week high of $72.61. The stock’s 50-day moving average is $58.29. The company has a current ratio of 3.94, a quick ratio of 2.30 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $2.80 billion, a P/E ratio of -106.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, November 9th. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.22). NuVasive had a positive return on equity of 11.40% and a negative net margin of 2.27%. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, equities analysts anticipate that NuVasive will post 2.06 earnings per share for the current fiscal year.

NuVasive declared that its board has authorized a stock buyback plan on Tuesday, November 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the medical device company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several equities research analysts recently commented on NUVA shares. Truist Securities lowered their price target on NuVasive from $80.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, November 10th. Truist cut their price target on NuVasive from $80.00 to $75.00 and set a buy rating for the company in a report on Wednesday, November 10th. Credit Suisse Group cut their price target on NuVasive from $84.00 to $83.00 and set an outperform rating for the company in a report on Wednesday, November 10th. Needham & Company LLC cut their target price on NuVasive from $73.00 to $64.00 and set a buy rating for the company in a research note on Wednesday, November 10th. Finally, JPMorgan Chase & Co. dropped their price objective on NuVasive from $70.00 to $60.00 and set a neutral rating for the company in a research note on Thursday, October 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $67.29.

A hedge fund recently bought a new stake in NuVasive stock. Janus Henderson Group PLC bought a new position in shares of NuVasive, Inc. (NASDAQ:NUVA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,186 shares of the medical device company’s stock, valued at approximately $310,000.

NuVasive Company Profile

NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.

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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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