NuVasive, Inc. (NASDAQ:NUVA) – Leerink Swann decreased their FY2019 earnings per share estimates for NuVasive in a report released on Wednesday, May 2nd, Zacks Investment Research reports. Leerink Swann analyst R. Newitter now forecasts that the medical device company will post earnings per share of $2.83 for the year, down from their previous estimate of $2.84. Leerink Swann has a “Market Perform” rating and a $52.00 price objective on the stock.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, May 1st. The medical device company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). The business had revenue of $260.50 million for the quarter, compared to the consensus estimate of $259.43 million. NuVasive had a net margin of 4.14% and a return on equity of 13.14%. NuVasive’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS.
Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of NuVasive from a “hold” rating to a “sell” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $69.00 price target (down previously from $70.00) on shares of NuVasive in a research report on Wednesday, May 2nd. BMO Capital Markets lowered shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $69.00 price target on the stock. in a research report on Wednesday, May 2nd. BTIG Research reissued a “buy” rating and issued a $72.00 price target on shares of NuVasive in a research report on Wednesday, May 2nd. Finally, ValuEngine lowered shares of NuVasive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. NuVasive currently has a consensus rating of “Hold” and an average price target of $65.75.
Shares of NuVasive opened at $50.35 on Thursday, according to MarketBeat. The company has a market cap of $2.51 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.30 and a current ratio of 2.41. NuVasive has a twelve month low of $49.14 and a twelve month high of $49.72.
Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of NuVasive in the first quarter worth $141,000. Westside Investment Management Inc. grew its stake in shares of NuVasive by 76.0% in the fourth quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock worth $147,000 after acquiring an additional 1,140 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in shares of NuVasive in the fourth quarter worth $205,000. Permanens Capital L.P. acquired a new stake in shares of NuVasive in the first quarter worth $261,000. Finally, Symphony Asset Management LLC acquired a new stake in shares of NuVasive in the first quarter worth $273,000.
In related news, CEO Gregory T. Lucier acquired 6,000 shares of the stock in a transaction dated Tuesday, March 6th. The shares were acquired at an average price of $50.30 per share, for a total transaction of $301,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
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 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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