$272.29 Million in Sales Expected for NuVasive, Inc. (NUVA) This Quarter

Brokerages expect NuVasive, Inc. (NASDAQ:NUVA) to announce $272.29 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for NuVasive’s earnings, with estimates ranging from $271.40 million to $273.70 million. NuVasive posted sales of $271.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.4%. The company is expected to issue its next earnings report on Thursday, February 8th.

On average, analysts expect that NuVasive will report full-year sales of $272.29 million for the current fiscal year. For the next fiscal year, analysts expect that the company will report sales of $1.08 billion per share, with estimates ranging from $1.08 billion to $1.09 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow NuVasive.

Several equities analysts recently issued reports on NUVA shares. Leerink Swann reissued an “outperform” rating and issued a $69.00 target price (down from $74.00) on shares of NuVasive in a research report on Thursday, October 12th. Cowen set a $72.00 price target on shares of NuVasive and gave the company a “buy” rating in a report on Thursday, October 12th. Robert W. Baird set a $60.00 price target on shares of NuVasive and gave the company a “hold” rating in a report on Thursday, October 12th. TheStreet lowered shares of NuVasive from a “b-” rating to a “c+” rating in a report on Friday, October 13th. Finally, Barclays lowered their price target on shares of NuVasive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. NuVasive presently has an average rating of “Buy” and an average price target of $72.33.

Hedge funds have recently bought and sold shares of the company. Shelton Capital Management purchased a new stake in shares of NuVasive during the 2nd quarter worth about $221,000. Zions Bancorporation purchased a new stake in shares of NuVasive during the 3rd quarter worth about $160,000. Verition Fund Management LLC purchased a new stake in shares of NuVasive during the 2nd quarter worth about $233,000. Icon Advisers Inc. Co. purchased a new stake in shares of NuVasive during the 3rd quarter worth about $360,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of NuVasive during the 2nd quarter worth about $501,000.

NuVasive (NASDAQ NUVA) opened at $47.05 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. NuVasive has a 12-month low of $46.65 and a 12-month high of $81.68. The stock has a market capitalization of $2,466.85, a price-to-earnings ratio of 39.57, a P/E/G ratio of 1.37 and a beta of 0.50.

NuVasive announced that its board has initiated a stock repurchase program on Tuesday, October 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the medical device company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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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.

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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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