Wall Street analysts expect NuVasive, Inc. (NASDAQ:NUVA) to report sales of $272.74 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for NuVasive’s earnings, with the lowest sales estimate coming in at $271.10 million and the highest estimate coming in at $274.42 million. NuVasive reported sales of $271.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The business is expected to report its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that NuVasive will report full year sales of $272.74 million for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $1.09 billion per share, with estimates ranging from $1.08 billion to $1.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover NuVasive.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. NuVasive’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS.

Several analysts recently weighed in on the company. BTIG Research set a $74.00 price objective on NuVasive and gave the company a “buy” rating in a research note on Wednesday, December 13th. Needham & Company LLC reaffirmed a “sell” rating on shares of NuVasive in a research note on Friday, October 6th. Cowen reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a research note on Monday, September 18th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $75.00 price objective on shares of NuVasive in a research note on Tuesday, October 10th. Finally, BidaskClub raised NuVasive from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.43.

Several hedge funds have recently made changes to their positions in NUVA. Koch Industries Inc. boosted its stake in shares of NuVasive by 26,406.7% during the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock valued at $970,000 after purchasing an additional 978,631 shares in the last quarter. Voya Investment Management LLC raised its position in shares of NuVasive by 43.7% during the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after acquiring an additional 517,115 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of NuVasive by 118.7% during the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after acquiring an additional 296,715 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of NuVasive by 450.6% during the second quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after acquiring an additional 257,700 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of NuVasive by 13.7% during the third quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock worth $86,514,000 after acquiring an additional 187,863 shares during the last quarter.

Shares of NuVasive (NASDAQ NUVA) opened at $59.50 on Wednesday. The firm has a market capitalization of $3,098.34, a PE ratio of 32.16, a P/E/G ratio of 2.16 and a beta of 0.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. NuVasive has a 12 month low of $49.25 and a 12 month high of $81.68.

NuVasive announced that its Board of Directors has approved a share buyback plan on Tuesday, October 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the medical device company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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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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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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