NuVasive, Inc. (NASDAQ:NUVA) Expected to Post Quarterly Sales of $256.46 Million

Brokerages expect NuVasive, Inc. (NASDAQ:NUVA) to post $256.46 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for NuVasive’s earnings. The highest sales estimate is $263.89 million and the lowest is $246.80 million. NuVasive reported sales of $290.84 million during the same quarter last year, which would suggest a negative year over year growth rate of 11.8%. The business is expected to announce its next quarterly earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that NuVasive will report full-year sales of $1.02 billion for the current financial year, with estimates ranging from $1.00 billion to $1.05 billion. For the next year, analysts expect that the company will post sales of $1.21 billion, with estimates ranging from $1.08 billion to $1.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow NuVasive.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, August 4th. The medical device company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.07. The firm had revenue of $203.61 million during the quarter, compared to analysts’ expectations of $203.67 million. NuVasive had a positive return on equity of 8.33% and a negative net margin of 0.36%. NuVasive’s revenue was down 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share.

A number of research firms recently commented on NUVA. Northland Securities reaffirmed a “hold” rating on shares of NuVasive in a research note on Wednesday, August 5th. Credit Suisse Group restated a “buy” rating and issued a $74.00 price objective on shares of NuVasive in a report on Tuesday, July 21st. Morgan Stanley restated a “hold” rating on shares of NuVasive in a research note on Tuesday, July 21st. Needham & Company LLC reiterated a “buy” rating and set a $74.00 price objective on shares of NuVasive in a research note on Monday, July 20th. Finally, BidaskClub raised shares of NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.18.

NuVasive stock traded down $0.23 during trading hours on Friday, hitting $54.67. The stock had a trading volume of 604,985 shares, compared to its average volume of 904,404. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.84 and a quick ratio of 1.44. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -455.58, a PEG ratio of 5.70 and a beta of 1.29. NuVasive has a 1-year low of $28.55 and a 1-year high of $81.91. The stock’s fifty day moving average is $53.58 and its two-hundred day moving average is $55.65.

Large investors have recently made changes to their positions in the business. Copper Rock Capital Partners LLC increased its stake in shares of NuVasive by 4,146.1% in the second quarter. Copper Rock Capital Partners LLC now owns 9,821,223 shares of the medical device company’s stock worth $566,813,000 after acquiring an additional 9,589,922 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in NuVasive in the first quarter worth $44,332,000. Balyasny Asset Management LLC bought a new stake in NuVasive in the second quarter worth $25,956,000. Holocene Advisors LP bought a new stake in NuVasive in the second quarter worth $25,378,000. Finally, Loomis Sayles & Co. L P bought a new stake in NuVasive in the first quarter worth $19,269,000.

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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