NuVasive, Inc. (NASDAQ:NUVA) – Equities research analysts at Piper Jaffray Companies cut their FY2018 earnings estimates for NuVasive in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst M. O’brien now anticipates that the medical device company will post earnings per share of $2.18 for the year, down from their previous forecast of $2.38. Piper Jaffray Companies has a “Overweight” rating and a $75.00 price objective on the stock. Piper Jaffray Companies also issued estimates for NuVasive’s Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.48 EPS and FY2020 earnings at $2.89 EPS.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). The business had revenue of $271.30 million for the quarter, compared to analyst estimates of $265.70 million. NuVasive had a return on equity of 13.97% and a net margin of 2.24%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS.
Shares of NUVA opened at $56.17 on Thursday. The stock has a market cap of $3.21 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. NuVasive has a 1 year low of $44.62 and a 1 year high of $72.41.
Large investors have recently modified their holdings of the stock. Strs Ohio increased its stake in NuVasive by 45.5% in the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after purchasing an additional 1,000 shares during the last quarter. Sun Life Financial INC purchased a new position in NuVasive in the second quarter valued at approximately $201,000. Cubist Systematic Strategies LLC purchased a new position in NuVasive in the second quarter valued at approximately $221,000. Hartford Investment Management Co. purchased a new position in NuVasive in the second quarter valued at approximately $245,000. Finally, PEAK6 Investments L.P. purchased a new position in NuVasive in the second quarter valued at approximately $287,000.
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 product is 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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