NuVasive, Inc. (NASDAQ:NUVA) – Equities research analysts at Cantor Fitzgerald upped their FY2019 EPS estimates for NuVasive in a research report issued on Wednesday, July 31st. Cantor Fitzgerald analyst C. Bijou now expects that the medical device company will post earnings per share of $2.31 for the year, up from their previous forecast of $2.27. Cantor Fitzgerald currently has a “Hold” rating and a $61.00 price target on the stock. Cantor Fitzgerald also issued estimates for NuVasive’s FY2020 earnings at $2.54 EPS.
A number of other analysts have also issued reports on NUVA. TheStreet raised shares of NuVasive from a “c+” rating to a “b” rating in a research report on Wednesday, July 31st. ValuEngine raised 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 target on shares of NuVasive and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research reissued a “buy” rating and issued a $65.00 price target on shares of NuVasive in a research report on Monday, July 1st. Finally, Morgan Stanley increased their price target on shares of NuVasive from $57.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. One equities research 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. NuVasive currently has a consensus rating of “Hold” and an average price target of $66.14.
NASDAQ NUVA opened at $65.52 on Monday. The stock has a 50 day moving average of $58.85. The company has a quick ratio of 1.99, a current ratio of 3.60 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. NuVasive has a 52-week low of $43.51 and a 52-week high of $72.41.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, July 30th. The medical device company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $292.11 million during the quarter, compared to analyst estimates of $290.59 million. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP grew its holdings 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 purchasing an additional 176 shares during the last quarter. Westside Investment Management Inc. acquired a new position in NuVasive during the second quarter valued at approximately $87,000. Knott David M acquired a new position in NuVasive during the first quarter valued at approximately $114,000. Rockefeller Capital Management L.P. grew its holdings in NuVasive by 251.2% during 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. acquired a new position in NuVasive during the first quarter valued at approximately $175,000.
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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