NuVasive Inc. (NASDAQ: NUVA) stock fell -3.88% on Tuesday to $38.68 against a previous-day closing price of $40.24. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.97 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $40.35 whereas the lowest price it dropped to was $38.64. The 52-week range on NUVA shows that it touched its highest point at $58.55 and its lowest point at $35.17 during that stretch. It currently has a 1-year price target of $48.98. Beta for the stock currently stands at 1.08.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NUVA was down-trending over the past week, with a drop of -5.34%, but this was down by -10.21% over a month. Three-month performance dropped to -12.03% while six-month performance rose 6.94%. The stock lost -27.06% in the past year, while it has lost -6.21% so far this year. A look at the trailing 12-month EPS for NUVA yields 0.26 with Next year EPS estimates of 2.56. For the next quarter, that number is 0.55. This implies an EPS growth rate of 156.70% for this year and 17.56% for next year. EPS is expected to grow by 17.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -8.90%.
Float and Shares Shorts:
At present, 52.24 million NUVA shares are outstanding with a float of 52.02 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.93 million, which was 9.41% higher than short shares on Mar 30, 2023. In addition to Mr. J. Christopher Barry as the firm’s CEO & Director, Mr. Matthew K. Harbaugh serves as its Exec. VP & CFO.
Through their ownership of 112.85% of NUVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.52% of NUVA, in contrast to 40.13% held by mutual funds. Shares owned by individuals account for 15.41%. As the largest shareholder in NUVA with 15.43% of the stake, BlackRock Fund Advisors holds 8,075,380 shares worth 8,075,380. A second-largest stockholder of NUVA, The Vanguard Group, Inc., holds 6,095,043 shares, controlling over 11.64% of the firm’s shares. Thrivent Asset Management LLC is the third largest shareholder in NUVA, holding 3,219,514 shares or 6.15% stake. With a 7.23% stake in NUVA, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,786,459 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.06% of NUVA stock, is the second-largest Mutual Fund holder. It holds 1,602,264 shares valued at 68.96 million. Vanguard Small Cap Index Fund holds 2.61% of the stake in NUVA, owning 1,365,768 shares worth 58.78 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NUVA reported revenue of $310.45M and operating income of $25.45M. The EBITDA in the recently reported quarter was $32.51M and diluted EPS was -$0.02.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NUVA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NUVA analysts setting a high price target of $58.00 and a low target of $43.00, the average target price over the next 12 months is $49.06. Based on these targets, NUVA could surge 49.95% to reach the target high and rise by 11.17% to reach the target low. Reaching the average price target will result in a growth of 26.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded NUVA stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 60,113 shares were bought while 19,956 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 66,685 while 20,396 shares were sold.