NuVasive (NASDAQ:NUVA) Issues FY22 Earnings Guidance

NuVasive (NASDAQ:NUVAGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.15-$2.45 for the period, compared to the consensus EPS estimate of $2.18. The company issued revenue guidance of $1.207-$1.230 billion, compared to the consensus revenue estimate of $1.21 billion.

NUVA stock traded up $0.58 during midday trading on Friday, reaching $54.42. 801,372 shares of the company were exchanged, compared to its average volume of 486,367. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.99 and a quick ratio of 2.42. The business has a 50-day moving average price of $54.81 and a two-hundred day moving average price of $53.68. NuVasive has a one year low of $45.45 and a one year high of $71.94. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -72.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12.

NuVasive (NASDAQ:NUVAGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The medical device company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. NuVasive had a negative net margin of 3.23% and a positive return on equity of 11.82%. The firm had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $277.63 million. During the same period in the previous year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that NuVasive will post 2.24 earnings per share for the current fiscal year.

NUVA has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of NuVasive in a research report on Wednesday, April 13th. They issued a buy rating and a $65.00 target price for the company. Morgan Stanley reduced their target price on shares of NuVasive from $62.00 to $60.00 and set an equal weight rating for the company in a research report on Friday, January 7th. Needham & Company LLC reissued a buy rating and issued a $64.00 target price on shares of NuVasive in a research report on Thursday, March 24th. Zacks Investment Research raised shares of NuVasive from a sell rating to a hold rating and set a $57.00 target price for the company in a research report on Tuesday, March 1st. Finally, Wells Fargo & Company initiated coverage on shares of NuVasive in a research report on Monday, March 28th. They issued an overweight rating and a $58.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NuVasive presently has an average rating of Hold and a consensus target price of $62.82.

In other NuVasive news, CEO James Christopher Barry sold 5,000 shares of the business’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief executive officer now owns 50,218 shares of the company’s stock, valued at $2,912,644. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC increased its stake in shares of NuVasive by 0.6% in the fourth quarter. MetLife Investment Management LLC now owns 43,554 shares of the medical device company’s stock valued at $2,286,000 after buying an additional 251 shares during the period. Legal & General Group Plc increased its stake in shares of NuVasive by 0.8% in the fourth quarter. Legal & General Group Plc now owns 111,990 shares of the medical device company’s stock valued at $5,878,000 after buying an additional 852 shares during the period. LPL Financial LLC increased its stake in shares of NuVasive by 11.2% in the fourth quarter. LPL Financial LLC now owns 11,028 shares of the medical device company’s stock valued at $576,000 after buying an additional 1,112 shares during the period. California State Teachers Retirement System increased its stake in shares of NuVasive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 71,835 shares of the medical device company’s stock valued at $3,770,000 after buying an additional 1,632 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of NuVasive by 29.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 19,328 shares of the medical device company’s stock valued at $1,014,000 after buying an additional 4,361 shares during the period.

NuVasive Company Profile (Get Rating)

NuVasive, Inc, a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment.

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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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