NuVasive (NASDAQ:NUVA) Releases FY 2022 Earnings Guidance

NuVasive (NASDAQ:NUVA – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $2.15-$2.45 for the period, compared to the consensus EPS estimate of $2.17. The company issued revenue guidance of $1.21 billion-$1.23 billion, compared to the consensus revenue estimate of $1.21 billion.

Shares of NUVA opened at $50.07 on Wednesday. NuVasive has a 52-week low of $45.45 and a 52-week high of $71.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.42 and a current ratio of 3.18. The firm has a fifty day simple moving average of $54.58. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -66.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.

NuVasive (NASDAQ:NUVA – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The medical device company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. NuVasive had a positive return on equity of 11.85% and a negative net margin of 3.23%. The business had revenue of $290.80 million during the quarter, compared to the consensus estimate of $277.63 million. During the same period in the prior year, the business posted $0.37 earnings per share. NuVasive’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that NuVasive will post 2.31 earnings per share for the current fiscal year.

Several research analysts have issued reports on the stock. Needham & Company LLC restated a buy rating and set a $64.00 price target on shares of NuVasive in a report on Thursday, March 24th. StockNews.com began coverage on shares of NuVasive in a report on Thursday, March 31st. They issued a hold rating on the stock. Truist Financial initiated coverage on NuVasive in a report on Wednesday, April 13th. They set a buy rating and a $65.00 price target for the company. Wells Fargo & Company started coverage on NuVasive in a research note on Monday, March 28th. They issued an overweight rating and a $58.00 price objective on the stock. Finally, Zacks Investment Research raised NuVasive from a sell rating to a hold rating and set a $57.00 target price for the company in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $62.82.

In other NuVasive news, CEO James Christopher Barry sold 5,000 shares of NuVasive 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 in the company, valued at approximately $2,912,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of NUVA. Forum Financial Management LP purchased a new position in NuVasive during the 4th quarter worth $304,000. Janus Henderson Group PLC bought a new position in shares of NuVasive during the third quarter valued at about $310,000. LPL Financial LLC boosted its holdings in NuVasive by 11.2% during the fourth quarter. LPL Financial LLC now owns 11,028 shares of the medical device company’s stock worth $576,000 after purchasing an additional 1,112 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in NuVasive by 29.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 19,328 shares of the medical device company’s stock worth $1,014,000 after purchasing an additional 4,361 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in NuVasive in the 4th quarter valued at about $1,423,000.

About NuVasive (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.

Read More