NuVasive (NASDAQ:NUVA) Issues FY 2021 Earnings Guidance

NuVasive (NASDAQ:NUVA) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.730-$1.830 for the period, compared to the Thomson Reuters consensus estimate of $2.230. The company issued revenue guidance of $1.13 billion-$1.14 billion, compared to the consensus revenue estimate of $1.19 billion.

Several brokerages have recently issued reports on NUVA. Truist Securities dropped 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, November 10th. Truist lowered their price target on shares of NuVasive from $80.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, November 10th. Canaccord Genuity lowered their price target on shares of NuVasive from $63.00 to $60.00 and set a hold rating on the stock in a research report on Wednesday, November 10th. Credit Suisse Group lowered their price target on shares of NuVasive from $84.00 to $83.00 and set an outperform rating on the stock in a research report on Wednesday, November 10th. Finally, Needham & Company LLC lowered their price target on shares of NuVasive from $73.00 to $64.00 and set a buy rating on the stock in a research report on Wednesday, November 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, NuVasive presently has an average rating of Hold and a consensus price target of $67.29.

NUVA traded up $0.12 during trading hours on Thursday, hitting $54.13. 523,055 shares of the company’s stock were exchanged, compared to its average volume of 706,235. NuVasive has a 12-month low of $44.80 and a 12-month high of $72.61. The stock’s 50 day moving average price is $58.29. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -106.14, a P/E/G ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.30 and a current ratio of 3.94.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, November 9th. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.22). NuVasive had a positive return on equity of 11.40% and a negative net margin of 2.27%. During the same quarter last year, the firm posted $0.54 EPS. Analysts predict that NuVasive will post 2.06 earnings per share for the current fiscal year.

NuVasive declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

An institutional investor recently bought a new position in NuVasive stock. Janus Henderson Group PLC acquired a new position in shares of NuVasive, Inc. (NASDAQ:NUVA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,186 shares of the medical device company’s stock, valued at approximately $310,000.

NuVasive Company Profile

NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.

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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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