Zacks: Brokerages Expect NuVasive, Inc. (NASDAQ:NUVA) Will Post Quarterly Sales of $283.57 Million

Wall Street analysts expect NuVasive, Inc. (NASDAQ:NUVA) to report $283.57 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for NuVasive’s earnings, with the lowest sales estimate coming in at $281.41 million and the highest estimate coming in at $288.68 million. NuVasive posted sales of $271.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that NuVasive will report full year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.16 billion. For the next financial year, analysts anticipate that the business will report sales of $1.21 billion, with estimates ranging from $1.21 billion to $1.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover NuVasive.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 30th. The medical device company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The company had revenue of $292.11 million during the quarter, compared to analysts’ expectations of $290.59 million. NuVasive had a return on equity of 15.16% and a net margin of 4.39%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS.

Several equities research analysts recently issued reports on NUVA shares. ValuEngine raised NuVasive from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada set a $70.00 price target on NuVasive and gave the company a “buy” rating in a research report on Wednesday. TheStreet raised NuVasive from a “c+” rating to a “b” rating in a research report on Wednesday. Robert W. Baird lowered NuVasive from an “outperform” rating to a “neutral” rating and set a $66.00 price target on the stock. in a research report on Monday. Finally, Piper Jaffray Companies set a $72.00 price target on NuVasive and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. NuVasive currently has a consensus rating of “Hold” and an average price target of $66.14.

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation N.A. increased its position in NuVasive by 6.1% in the second quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock worth $192,000 after buying an additional 190 shares during the period. Gamco Investors INC. ET AL increased its position in NuVasive by 2.0% in the first quarter. Gamco Investors INC. ET AL now owns 163,012 shares of the medical device company’s stock worth $9,257,000 after buying an additional 3,165 shares during the period. Rockefeller Capital Management L.P. increased its position in NuVasive by 251.2% in the first quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock worth $114,000 after buying an additional 1,432 shares during the period. Rhumbline Advisers increased its position in NuVasive by 1.4% in the first quarter. Rhumbline Advisers now owns 165,863 shares of the medical device company’s stock worth $9,419,000 after buying an additional 2,303 shares during the period. Finally, Principal Financial Group Inc. increased its position in NuVasive by 10.2% in the fourth quarter. Principal Financial Group Inc. now owns 259,329 shares of the medical device company’s stock worth $12,852,000 after buying an additional 23,977 shares during the period.

Shares of NUVA stock traded down $1.34 on Friday, hitting $66.38. 3,804 shares of the stock traded hands, compared to its average volume of 280,403. The company has a quick ratio of 1.96, a current ratio of 3.75 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.11 billion, a P/E ratio of 29.52, a PEG ratio of 2.21 and a beta of 1.11. NuVasive has a 1-year low of $43.51 and a 1-year high of $72.41. The stock’s fifty day moving average is $58.09.

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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