Equities analysts expect that NuVasive, Inc. (NASDAQ:NUVA) will post sales of $265.68 million for the current quarter, according to Zacks. Six analysts have issued estimates for NuVasive’s earnings, with the highest sales estimate coming in at $269.98 million and the lowest estimate coming in at $262.02 million. NuVasive posted sales of $247.43 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.4%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that NuVasive will report full year sales of $1.10 billion for the current year. For the next year, analysts anticipate that the business will post sales of $1.16 billion, with estimates ranging from $1.15 billion to $1.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover NuVasive.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, July 31st. The medical device company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The firm had revenue of $281.56 million for the quarter, compared to analyst estimates of $276.05 million. NuVasive had a net margin of 3.96% and a return on equity of 13.70%.
NASDAQ:NUVA opened at $62.94 on Wednesday. NuVasive has a 1-year low of $44.62 and a 1-year high of $72.41. The firm has a market capitalization of $3.19 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 1.70 and a beta of 0.69.
Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio lifted its holdings in NuVasive by 45.5% during 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 in the last quarter. Sun Life Financial INC purchased a new position in NuVasive during the second quarter valued at $201,000. Cubist Systematic Strategies LLC purchased a new position in NuVasive during the second quarter valued at $221,000. Hartford Investment Management Co. purchased a new position in NuVasive during the second quarter valued at $245,000. Finally, PEAK6 Investments L.P. purchased a new position in NuVasive during the second quarter valued at $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.
Featured Story: Yield Curve
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NuVasive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive and related companies with MarketBeat.com's FREE daily email newsletter.