Brokerages expect that NuVasive, Inc. (NASDAQ:NUVA) will announce $291.76 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for NuVasive’s earnings. The lowest sales estimate is $288.80 million and the highest is $293.09 million. NuVasive posted sales of $281.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The business is scheduled to report its next earnings results on Tuesday, July 30th.
On average, analysts expect that NuVasive will report full year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.16 billion. For the next financial year, analysts forecast that the firm will report sales of $1.21 billion, with estimates ranging from $1.21 billion to $1.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow NuVasive.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Wednesday, May 1st. The medical device company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.12. The company had revenue of $274.78 million during the quarter, compared to the consensus estimate of $269.22 million. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS.
NUVA has been the subject of a number of analyst reports. BTIG Research downgraded shares of EVO Payments from a “buy” rating to a “neutral” rating in a report on Monday, July 1st. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine downgraded shares of USD Partners from a “hold” rating to a “sell” rating in a report on Friday, June 14th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $25.00 price target on shares of Menlo Therapeutics in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.79.
In other NuVasive news, President Matthew Link sold 10,100 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $62.00, for a total value of $626,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP bought a new position in shares of NuVasive in the fourth quarter worth about $25,000. Bessemer Group Inc. bought a new position in shares of NuVasive in the fourth quarter worth about $50,000. Knott David M bought a new position in shares of NuVasive in the first quarter worth about $114,000. Rockefeller Capital Management L.P. raised its stake in shares of NuVasive by 251.2% in the first quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock worth $114,000 after acquiring an additional 1,432 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new position in shares of NuVasive in the first quarter worth about $175,000.
Shares of NASDAQ:NUVA traded down $0.08 during midday trading on Friday, reaching $57.07. 350,885 shares of the company’s stock were exchanged, compared to its average volume of 347,896. The business has a 50 day moving average price of $58.31. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.10 and a beta of 1.11. NuVasive has a 12 month low of $43.51 and a 12 month high of $72.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.75 and a quick ratio of 1.96.
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 products include 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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