$260.48 Million in Sales Expected for NuVasive, Inc. (NUVA) This Quarter

Wall Street analysts expect NuVasive, Inc. (NASDAQ:NUVA) to announce $260.48 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for NuVasive’s earnings, with the highest sales estimate coming in at $261.59 million and the lowest estimate coming in at $259.30 million. NuVasive posted sales of $249.86 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, May 1st.

On average, analysts expect that NuVasive will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.10 billion. For the next financial year, analysts anticipate that the business will report sales of $1.15 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NuVasive.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Monday, February 26th. The medical device company reported $0.56 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The business had revenue of $271.70 million for the quarter, compared to analysts’ expectations of $272.11 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up .2% on a year-over-year basis.

NUVA has been the topic of several research analyst reports. Leerink Swann cut NuVasive from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 1st. Canaccord Genuity cut their price objective on NuVasive from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective (down previously from $67.00) on shares of NuVasive in a research report on Tuesday, February 27th. Piper Jaffray reissued a “buy” rating and issued a $90.00 price objective on shares of NuVasive in a research report on Tuesday, January 9th. Finally, Wells Fargo cut NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $66.00.

In other news, CEO Gregory T. Lucier purchased 6,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were purchased at an average price of $48.57 per share, with a total value of $291,420.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in NUVA. Legal & General Group Plc raised its stake in shares of NuVasive by 13.0% during the 3rd quarter. Legal & General Group Plc now owns 44,919 shares of the medical device company’s stock valued at $2,491,000 after purchasing an additional 5,159 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of NuVasive by 10.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 258,026 shares of the medical device company’s stock valued at $14,311,000 after purchasing an additional 23,482 shares during the period. Janus Henderson Group PLC raised its stake in shares of NuVasive by 37.7% during the 3rd quarter. Janus Henderson Group PLC now owns 225,655 shares of the medical device company’s stock valued at $12,515,000 after purchasing an additional 61,742 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of NuVasive by 238.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 22,873 shares of the medical device company’s stock valued at $1,269,000 after purchasing an additional 16,115 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of NuVasive by 176.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock valued at $521,000 after purchasing an additional 6,002 shares during the period.

NUVA stock traded up $0.44 during midday trading on Tuesday, hitting $52.89. The company’s stock had a trading volume of 471,784 shares, compared to its average volume of 765,375. The company has a current ratio of 3.48, a quick ratio of 1.94 and a debt-to-equity ratio of 0.73. NuVasive has a 1 year low of $44.62 and a 1 year high of $81.68. The stock has a market cap of $2,711.04, a P/E ratio of 27.69, a P/E/G ratio of 1.41 and a beta of 0.38.

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About NuVasive

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 product is 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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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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