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NuVasive (NASDAQ:NUVA - Get Rating) issued an update on its FY 2022 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 $2.31. The company issued revenue guidance of $1.21 billion-$1.23 billion, compared to the consensus revenue estimate of $1.22 billion. NuVasive Trading Up 0.4 %

Shares of NUVA stock traded up $0.22 during trading hours on Wednesday, hitting $51.52. 4,588 shares of the company were exchanged, compared to its average volume of 543,925. The company has a 50 day simple moving average of $50.94 and a two-hundred day simple moving average of $52.75. NuVasive has a fifty-two week low of $45.45 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.17. The firm has a market cap of $2.68 billion, a P/E ratio of -64.13, a P/E/G ratio of 2.05 and a beta of 1.14. Analyst Ratings Changes

A number of brokerages have recently issued reports on NUVA. Truist Financial reduced their price objective on shares of NuVasive to $63.00 in a report on Friday, July 22nd. Piper Sandler decreased their target price on shares of NuVasive from $80.00 to $60.00 and set an overweight rating for the company in a research report on Thursday, August 4th. Canaccord Genuity Group boosted their target price on shares of NuVasive from $50.00 to $55.00 in a research report on Friday, August 5th. Finally, Morgan Stanley decreased their target price on shares of NuVasive from $62.00 to $54.00 and set an equal weight rating for the company in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, NuVasive has an average rating of Hold and an average target price of $61.75.Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd boosted its stake in NuVasive by 28.3% in the first quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company's stock valued at $76,000 after acquiring an additional 297 shares during the last quarter. Captrust Financial Advisors boosted its stake in NuVasive by 85.7% in the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company's stock valued at $120,000 after acquiring an additional 973 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in NuVasive by 76.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company's stock valued at $123,000 after acquiring an additional 942 shares during the last quarter. Acadian Asset Management LLC purchased a new position in NuVasive in the first quarter valued at about $189,000. Finally, Brinker Capital Investments LLC purchased a new position in NuVasive in the first quarter valued at about $214,000. 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.See AlsoGet a free copy of the StockNews.com research report on NuVasive (NUVA)A Rounded Bottom In Draftkings, Inc Begins To Reverse CourseWorkhorse Group Is Ready To Get Back On The Horse Are 3M, Honeywell, GE Buys After Quarterly Reports?This Defense Stock Has Bullish Fundamentals AND TechnicalsCVS and Walgreens Show Why Investment Objectives Matter

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