NuVasive, Inc. (NASDAQ:NUVA) – Research analysts at Svb Leerink reduced their Q1 2019 earnings per share estimates for shares of NuVasive in a report released on Friday, April 12th. Svb Leerink analyst R. Newitter now anticipates that the medical device company will post earnings per share of $0.41 for the quarter, down from their prior forecast of $0.45. Svb Leerink also issued estimates for NuVasive’s Q2 2019 earnings at $0.57 EPS, FY2020 earnings at $2.54 EPS and FY2021 earnings at $2.83 EPS.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Wednesday, February 20th. The medical device company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $288.30 million during the quarter, compared to analysts’ expectations of $290.85 million. NuVasive had a return on equity of 14.60% and a net margin of 1.13%. NuVasive’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut NuVasive from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Jefferies Financial Group cut NuVasive from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a report on Tuesday, February 12th. Credit Suisse Group assumed coverage on NuVasive in a report on Monday, December 17th. They issued an “outperform” rating and a $66.00 price objective for the company. BidaskClub cut NuVasive from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Needham & Company LLC cut NuVasive from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. NuVasive currently has an average rating of “Hold” and an average price target of $66.64.
Shares of NUVA stock opened at $57.33 on Monday. The stock has a market cap of $2.95 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.14 and a beta of 1.21. NuVasive has a 1-year low of $43.51 and a 1-year high of $72.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.44 and a quick ratio of 1.92.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUVA. Retirement Systems of Alabama raised its position in shares of NuVasive by 0.8% in the 1st quarter. Retirement Systems of Alabama now owns 67,218 shares of the medical device company’s stock worth $3,817,000 after acquiring an additional 546 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of NuVasive by 1.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the medical device company’s stock worth $784,000 after acquiring an additional 200 shares in the last quarter. Malaga Cove Capital LLC raised its position in shares of NuVasive by 12.0% in the 1st quarter. Malaga Cove Capital LLC now owns 25,968 shares of the medical device company’s stock worth $1,475,000 after acquiring an additional 2,790 shares in the last quarter. 6 Meridian raised its position in shares of NuVasive by 32.2% in the 1st quarter. 6 Meridian now owns 10,200 shares of the medical device company’s stock worth $579,000 after acquiring an additional 2,486 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of NuVasive in the 4th quarter worth approximately $6,258,000.
NuVasive Company Profile
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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