Svb Leerink Equities Analysts Reduce Earnings Estimates for NuVasive, Inc. (NASDAQ:NUVA)

NuVasive, Inc. (NASDAQ:NUVA) – Analysts at Svb Leerink lowered their Q3 2019 EPS estimates for NuVasive in a note issued to investors on Wednesday, July 31st. Svb Leerink analyst R. Newitter now anticipates that the medical device company will earn $0.54 per share for the quarter, down from their prior estimate of $0.57. Svb Leerink also issued estimates for NuVasive’s Q4 2019 earnings at $0.62 EPS.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald restated a “hold” rating and issued a $61.00 target price on shares of NuVasive in a research note on Thursday, May 2nd. Zacks Investment Research upgraded NuVasive from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Wednesday, July 10th. TheStreet upgraded NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. BidaskClub upgraded NuVasive from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.14.

NUVA stock opened at $65.52 on Monday. The firm has a market cap of $3.41 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.60 and a quick ratio of 1.99. NuVasive has a 52-week low of $43.51 and a 52-week high of $72.41. The company’s 50-day moving average is $58.85.

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

Institutional investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its stake in NuVasive by 35.1% in the first quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Westside Investment Management Inc. purchased a new position in NuVasive in the second quarter valued at approximately $87,000. Knott David M purchased a new position in NuVasive in the first quarter valued at approximately $114,000. Rockefeller Capital Management L.P. lifted its stake 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 valued at $114,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in NuVasive in the first quarter valued at approximately $175,000.

About NuVasive

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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