Brokers expect NuVasive, Inc. (NASDAQ:NUVA) to post EPS of $0.56

Wall Street brokers expect NuVasive, Inc. (NASDAQ:NUVA – Get a rating) to report earnings per share (EPS) of $0.56 for the current quarter, Zacks reports. Five analysts have made earnings estimates for NuVasive. The lowest EPS estimate is $0.48 and the highest is $0.65. NuVasive reported earnings of $0.60 per share in the same quarter last year, indicating a negative 6.7% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.

According to Zacks, analysts expect NuVasive to report annual earnings of $2.31 per share for the current year, with EPS estimates ranging from $2.20 to $2.40. For next year, analysts expect the company to post earnings of $2.59 per share, with EPS estimates ranging from $2.52 to $2.66. Zacks Investment Research EPS averages are an average based on a survey of analysts who cover NuVasive.

NuVasive (NASDAQ: NUVA – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The medical device company reported earnings per share of $0.54 for the quarter, beating the consensus estimate of $0.39 by $0.15. The company posted revenue of $290.80 million in the quarter, compared to a consensus estimate of $277.63 million. NuVasive had a negative net margin of 3.23% and a positive return on equity of 11.85%. The company’s revenue increased by 7.2% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.37.

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NUVA has been the subject of several recent analyst reports. StockNews.com launched coverage on NuVasive shares in a research report on Thursday, March 31. They set a “hold” rating for the company. Truist Financial launched coverage on NuVasive shares in a research report on Wednesday, April 13. They issued a “buy” rating and a price target of $65.00 for the company. Wells Fargo & Company launched coverage on NuVasive shares in a research report on Monday, March 28. They issued an “overweight” rating and a price target of $58.00 for the company. Zacks Investment Research upgraded NuVasive shares from a “sell” rating to a “hold” rating and set a price target of $57.00 for the company in a Tuesday, March 1 research report. Finally, Needham & Company LLC reiterated a “buy” rating and posted a $64.00 price target on NuVasive shares in a research report on Thursday, March 24. One analyst rated the stock with a sell rating, seven assigned a hold rating and six assigned the company a buy rating. Based on data from MarketBeat, NuVasive has a consensus rating of “Hold” and a consensus target price of $62.82.

Shares of NASDAQ:NUVA were up $0.58 during Friday’s trading, hitting $54.42. 801,372 shares of the company were traded, against an average volume of 519,010. The stock has a market capitalization of $2.83 billion, a PE ratio of -72.56, a P/E/G ratio of 1.54 and a beta of 1.12. The company has a quick ratio of 2.42, a current ratio of 3.18 and a debt ratio of 1.09. NuVasive has a 12 month minimum of $45.45 and a 12 month maximum of $71.94. The company has a 50-day moving average of $54.81.

In other news, CEO James Christophe Barry sold 5,000 shares of the company in a trade on Wednesday, April 13. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. As a result of the transaction, the CEO now directly owns 50,218 shares of the company, valued at approximately $2,912,644. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. 0.47% of the shares are currently held by company insiders.

Several large investors have recently bought and sold shares of NUVA. Barclays PLC increased its stake in NuVasive by 154.8% in Q4. Barclays PLC now owns 1,149,637 shares of the medical device company valued at $60,334,000 after acquiring a further 698,360 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in NuVasive in Q4 valued at approximately $30,960,000. William Blair Investment Management LLC increased its stake in NuVasive to 47,609.7% in Q3. William Blair Investment Management LLC now owns 527,192 shares of the medical device company valued at $31,552,000 after acquiring an additional 526,087 shares in the last quarter. Norges Bank acquired a new stake in NuVasive in Q4 valued at approximately $27,018,000. Finally, Thrivent Financial for Lutherans increased its stake in NuVasive by 35.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,927,417 shares of the medical device company valued at $115,356,000 after acquiring an additional 505,367 shares in the last quarter.

NuVasive Company Profile (Get a rating)

NuVasive, Inc., a medical technology company, develops, manufactures and sells procedural solutions for spine surgery. It provides surgical access instruments, including the Maxcess integrated split-blade retractor system that enables less invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by improving osseointegration and the biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and a fixation system that facilitates the preservation and restoration of patient alignment.

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