FY2021 EPS Estimates for NuVasive, Inc. (NUVA) Decreased by Analyst

NuVasive, Inc. (NASDAQ:NUVA) – Analysts at Gabelli dropped their FY2021 earnings per share estimates for NuVasive in a research note issued to investors on Thursday. Gabelli analyst J. Tsai now anticipates that the medical device company will post earnings of $3.30 per share for the year, down from their previous estimate of $4.00. Gabelli has a “Buy” rating on the stock.

Several other research analysts also recently commented on the company. Needham & Company LLC downgraded NuVasive from a “hold” rating to an “underperform” rating in a research note on Monday, August 28th. BTIG Research initiated coverage on NuVasive in a research note on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a research note on Monday, September 18th. BidaskClub raised NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $79.00 price objective on shares of NuVasive in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.67.

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NuVasive (NASDAQ:NUVA) traded down 0.60% on Monday, reaching $56.73. The company’s stock had a trading volume of 926,611 shares. NuVasive has a one year low of $49.25 and a one year high of $81.68. The stock has a 50-day moving average of $55.46 and a 200-day moving average of $67.92. The stock has a market cap of $2.88 billion, a P/E ratio of 89.34 and a beta of 1.04.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS.

NuVasive announced that its board has initiated a stock repurchase plan on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Gregory T. Lucier purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $61.52 per share, for a total transaction of $123,040.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory T. Lucier purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $66.22 per share, with a total value of $331,100.00. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Partners Fund LP purchased a new position in NuVasive during the 1st quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the last quarter. Howard Hughes Medical Institute lifted its stake in shares of NuVasive by 82.8% in the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after purchasing an additional 936 shares during the last quarter. Honkamp Krueger Financial Services Inc. bought a new stake in shares of NuVasive in the 2nd quarter valued at approximately $201,000. Finally, Shelton Capital Management bought a new stake in shares of NuVasive in the 2nd quarter valued at approximately $221,000.

NuVasive Company Profile

Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.

Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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