FY2021 EPS Estimates for NuVasive, Inc. (NASDAQ:NUVA) Cut by Jefferies Financial Group

NuVasive, Inc. (NASDAQ:NUVA) – Stock analysts at Jefferies Financial Group decreased their FY2021 earnings per share (EPS) estimates for shares of NuVasive in a note issued to investors on Thursday, August 8th. Jefferies Financial Group analyst R. Denhoy now anticipates that the medical device company will post earnings per share of $2.76 for the year, down from their prior estimate of $2.85. Jefferies Financial Group also issued estimates for NuVasive’s FY2022 earnings at $3.16 EPS and FY2023 earnings at $3.69 EPS.

NUVA has been the topic of several other research reports. Robert W. Baird cut shares of NuVasive from an “outperform” rating to a “neutral” rating and set a $66.00 price target on the stock. in a research note on Monday, July 29th. ValuEngine upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $72.00 price objective on shares of NuVasive and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of NuVasive from $54.00 to $68.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, Cowen set a $75.00 price objective on shares of NuVasive and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $66.21.

Shares of NuVasive stock opened at $64.87 on Monday. The stock’s fifty day simple moving average is $60.01. The stock has a market cap of $3.39 billion, a PE ratio of 29.09, a PEG ratio of 2.24 and a beta of 1.14. NuVasive has a 1-year low of $43.51 and a 1-year high of $72.41. The company has a quick ratio of 1.99, a current ratio of 3.60 and a debt-to-equity ratio of 0.79.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, July 30th. The medical device company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The business had revenue of $292.11 million for the quarter, compared to analysts’ expectations of $290.59 million. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS.

Hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new stake in shares of NuVasive in the 4th quarter valued at $464,000. Legal & General Group Plc boosted its holdings in shares of NuVasive by 5.6% in the 4th quarter. Legal & General Group Plc now owns 55,836 shares of the medical device company’s stock valued at $2,767,000 after purchasing an additional 2,947 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NuVasive by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 584,788 shares of the medical device company’s stock valued at $28,981,000 after purchasing an additional 40,600 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings 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 valued at $784,000 after purchasing an additional 200 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings 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 valued at $3,817,000 after purchasing an additional 546 shares in the last quarter.

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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