NuVasive (NASDAQ:NUVA) announced its earnings results on Tuesday. The medical device company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.06), MarketWatch Earnings reports. NuVasive had a return on equity of 13.97% and a net margin of 2.24%. The business had revenue of $271.30 million for the quarter, compared to analyst estimates of $265.70 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. NuVasive updated its FY18 guidance to $2.15-2.23 EPS.
Shares of NuVasive stock traded up $1.49 on Thursday, reaching $57.66. 248,170 shares of the stock were exchanged, compared to its average volume of 685,039. NuVasive has a one year low of $44.62 and a one year high of $72.41. The company has a market cap of $3.21 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69.
A number of brokerages have issued reports on NUVA. ValuEngine lowered shares of NuVasive from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets decreased their target price on shares of NuVasive from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Wednesday. Morgan Stanley decreased their target price on shares of NuVasive from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday. Canaccord Genuity decreased their target price on shares of NuVasive from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $75.00 target price (down previously from $80.00) on shares of NuVasive in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. NuVasive has an average rating of “Hold” and a consensus price target of $67.63.
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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