Analysts expect NuVasive, Inc. (NASDAQ:NUVA) to report $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for NuVasive’s earnings, with estimates ranging from $0.55 to $0.56. NuVasive posted earnings per share of $0.53 in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 8th.
According to Zacks, analysts expect that NuVasive will report full year earnings of $1.91 per share for the current financial year, with EPS estimates ranging from $1.90 to $1.92. For the next fiscal year, analysts forecast that the business will post earnings of $2.35 per share, with EPS estimates ranging from $2.19 to $2.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for NuVasive.
Several analysts have issued reports on NUVA shares. Leerink Swann lowered NuVasive from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $90.00 target price on shares of NuVasive in a research note on Tuesday, January 9th. Wells Fargo & Co downgraded NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Wednesday, January 17th. Needham & Company LLC reiterated a “sell” rating on shares of NuVasive in a research report on Wednesday, October 25th. Finally, Robert W. Baird set a $60.00 price objective on NuVasive and gave the company a “hold” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. NuVasive currently has an average rating of “Buy” and a consensus price target of $72.33.
NuVasive announced that its Board of Directors has authorized a stock buyback 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in the business. Shelton Capital Management bought a new position in shares of NuVasive during the second quarter valued at approximately $221,000. Zions Bancorporation bought a new position in shares of NuVasive during the third quarter valued at approximately $160,000. Verition Fund Management LLC bought a new position in shares of NuVasive during the second quarter valued at approximately $233,000. Icon Advisers Inc. Co. bought a new position in shares of NuVasive during the third quarter valued at approximately $360,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of NuVasive during the second quarter valued at approximately $501,000.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://sportsperspectives.com/2018/02/09/zacks-analysts-anticipate-nuvasive-inc-nuva-will-announce-earnings-of-0-56-per-share.html.
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.
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.