We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NuVasive Hits 52-Week High on Solid Q2 & Strategic Tie-Ups
Read MoreHide Full Article
The share price of NuVasive Inc rallied to a new 52-week high of $66.82 on Sep 2, closing a tad lower at $66.74. This represents an impressive one-year return of approximately 30.3%, decently ahead of the S&P 500’s 13.4% return over the same period.
Currently, NuVasive carries a Zacks Rank #1 (Strong Buy) and has a market cap of $3.35 billion.
Catalysts
We have observed the company’s share price to take a steady upturn since it has reported a promising second quarter performance on Jul 26, where it has outpaced the Zacks Consensus Estimate in terms of both earnings and revenues.
On a year-over-year basis, the company registered a stupendous increase of 29% in its adjusted earnings per share, supported by solid revenue growth of 16.1 % at constant exchange rate or CER.
Strong international presence and solid contribution from NSO (NuVasive Specialized Orthopedics business) are the key catalysts driving NuVasive’s impressive market performance. The strategic tie-ups with Ellipse Technologies, Biotronic NeuroNetwork and Brazilian distributor Mega Surgical are significant positives as well.
Meanwhile, NuVasive’s core U.S. spinal hardware business also holds considerable promise as it delivered year-over-year improvement of 18.3% in the just-reported quarter, thanks to the stellar performances by thoracolumbar business and the procedural categories (posterior lumbar, anterior, lateral, and cervical).
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 increased by 15 cents to $1.65 over the last 60 days. For fiscal 2017, estimates have scaled 4 cents to $2.07 over the last 30 days.
Key Sector Picks
Other favorably ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corp. (MASI - Free Report) and Quidel Corp. (QDEL - Free Report) . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
NuVasive Hits 52-Week High on Solid Q2 & Strategic Tie-Ups
The share price of NuVasive Inc rallied to a new 52-week high of $66.82 on Sep 2, closing a tad lower at $66.74. This represents an impressive one-year return of approximately 30.3%, decently ahead of the S&P 500’s 13.4% return over the same period.
Currently, NuVasive carries a Zacks Rank #1 (Strong Buy) and has a market cap of $3.35 billion.
Catalysts
We have observed the company’s share price to take a steady upturn since it has reported a promising second quarter performance on Jul 26, where it has outpaced the Zacks Consensus Estimate in terms of both earnings and revenues.
NUVASIVE INC Price and Consensus
NUVASIVE INC Price and Consensus | NUVASIVE INC Quote
On a year-over-year basis, the company registered a stupendous increase of 29% in its adjusted earnings per share, supported by solid revenue growth of 16.1 % at constant exchange rate or CER.
Strong international presence and solid contribution from NSO (NuVasive Specialized Orthopedics business) are the key catalysts driving NuVasive’s impressive market performance. The strategic tie-ups with Ellipse Technologies, Biotronic NeuroNetwork and Brazilian distributor Mega Surgical are significant positives as well.
Meanwhile, NuVasive’s core U.S. spinal hardware business also holds considerable promise as it delivered year-over-year improvement of 18.3% in the just-reported quarter, thanks to the stellar performances by thoracolumbar business and the procedural categories (posterior lumbar, anterior, lateral, and cervical).
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 increased by 15 cents to $1.65 over the last 60 days. For fiscal 2017, estimates have scaled 4 cents to $2.07 over the last 30 days.
Key Sector Picks
Other favorably ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corp. (MASI - Free Report) and Quidel Corp. (QDEL - Free Report) . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>