NuVasive, Inc. (NASDAQ:NUVA) – Equities research analysts at Svb Leerink cut their Q2 2019 earnings per share (EPS) estimates for NuVasive in a research report issued to clients and investors on Wednesday, July 10th. Svb Leerink analyst R. Newitter now forecasts that the medical device company will earn $0.56 per share for the quarter, down from their prior estimate of $0.58. Svb Leerink also issued estimates for NuVasive’s Q3 2019 earnings at $0.57 EPS and Q4 2019 earnings at $0.65 EPS.
Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued a “buy” rating and set a $25.00 price objective on shares of Menlo Therapeutics in a research note on Thursday, May 2nd. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. ValuEngine lowered USD Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 14th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BTIG Research lowered EVO Payments from a “buy” rating to a “neutral” rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. NuVasive currently has an average rating of “Hold” and an average price target of $66.79.
NASDAQ:NUVA opened at $57.07 on Friday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.10 and a beta of 1.11. NuVasive has a fifty-two week low of $43.51 and a fifty-two week high of $72.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.96 and a current ratio of 3.75. The company’s 50 day moving average is $58.31.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Wednesday, May 1st. The medical device company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. The business had revenue of $274.78 million for the quarter, compared to analysts’ expectations of $269.22 million. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share.
A number of institutional investors have recently made changes to their positions in the business. Arizona State Retirement System lifted its position in NuVasive by 0.5% during the first quarter. Arizona State Retirement System now owns 37,078 shares of the medical device company’s stock valued at $2,106,000 after buying an additional 170 shares during the period. Royce & Associates LP lifted its position in NuVasive by 35.1% during the first quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock valued at $39,000 after buying an additional 176 shares during the period. Zions Bancorporation N.A. lifted its position in NuVasive by 6.1% during the second quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock valued at $192,000 after buying an additional 190 shares during the period. Louisiana State Employees Retirement System lifted its position in NuVasive by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the medical device company’s stock valued at $784,000 after buying an additional 200 shares during the period. Finally, Retirement Systems of Alabama lifted its position in NuVasive by 0.4% during the second quarter. Retirement Systems of Alabama now owns 67,488 shares of the medical device company’s stock valued at $3,951,000 after buying an additional 270 shares during the period.
In related news, President Matthew Link sold 10,100 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $62.00, for a total value of $626,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% 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 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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