NuVasive, Inc. Forecasted to Earn Q1 2019 Earnings of $0.41 Per Share (NUVA)

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 announced its quarterly earnings data on Wednesday, February 20th. The medical device company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $288.30 million for the quarter, compared to analysts’ expectations of $290.85 million. NuVasive had a net margin of 1.13% and a return on equity of 14.60%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Several other equities analysts have also recently issued reports on the stock. BTIG Research lowered their price objective on shares of NuVasive to $59.00 and set a “buy” rating on the stock in a research note on Thursday, January 17th. They noted that the move was a valuation call. Needham & Company LLC cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Morgan Stanley lowered their price objective on shares of NuVasive from $73.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. Jefferies Financial Group cut shares of NuVasive from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a report on Tuesday, February 12th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $50.00 target price on shares of NuVasive in a report on Monday, February 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. NuVasive presently has an average rating of “Hold” and an average target price of $66.64.

Shares of NUVA opened at $57.33 on Monday. The company has a market capitalization of $2.95 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.92 and a current ratio of 3.44. NuVasive has a 12-month low of $43.51 and a 12-month high of $72.41.

Institutional investors and hedge funds have recently made changes to their positions in the business. Enlightenment Research LLC acquired a new position in shares of NuVasive in the fourth quarter worth about $25,000. Royce & Associates LP acquired a new stake in shares of NuVasive during the fourth quarter worth approximately $25,000. Bessemer Group Inc. acquired a new stake in shares of NuVasive during the fourth quarter worth approximately $50,000. Contravisory Investment Management Inc. acquired a new stake in shares of NuVasive during the fourth quarter worth approximately $114,000. Finally, Ffcm LLC boosted its holdings in shares of NuVasive by 191.2% during the fourth quarter. Ffcm LLC now owns 2,391 shares of the medical device company’s stock worth $118,000 after purchasing an additional 1,570 shares during the period.

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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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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