Notable News to Watch: NuVasive (NASDAQ:NUVA)

NuVasive (NASDAQ:NUVA) spotted trading -30.64% off 52-week high price. On the other end, the stock has been noted 98.98% away from the low price over the last 52-weeks. The stock changed -2.84% to recent value of $56.81. The stock transacted 1089592 shares during most recent day however it has an average volume of 1.14M shares. The company has 53.22M of outstanding shares and 49.83M shares were floated in the market.

On May 06, 2020, NuVasive (NASDAQ:NUVA) the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, released financial results for the quarter ended March 31, 2020.

First Quarter 2020 Highlights

  • Revenue decreased -5.4% to $259.9 million, or -5.1% on a constant currency basis;
  • GAAP operating margin of 10.9%; Non-GAAP operating margin of 16.9%; and
  • GAAP diluted earnings per share of $0.10; Non-GAAP diluted earnings per share of $0.48.

First and foremost, I want to recognize the healthcare professionals who are battling COVID-19 on the front lines and whose work is truly heroic during this global healthcare crisis, said J. Christopher Barry, chief executive officer of NuVasive. Additionally, I am proud of the resiliency demonstrated by NuVasive employees, as the Company remains committed to supporting our surgeon partners and their patients during this time.

NuVasive’s first quarter performance was consistent with the preliminary revenue results provided in the business update shared last month, Barry continued. The Company began the quarter positioned to build upon the financial momentum delivered last year, but faced a decline in elective procedure volumes due to the COVID-19 pandemic. However, with a strong cash position, dedicated team and innovative technology in our pipeline, we are confident in the long-term trajectory of the business and our purpose to transform surgery, advance care and change lives. Its earnings per share (EPS) expected to touch remained 414.80% for this year while earning per share for the next 5-years is expected to reach at 9.63%. NUVA has a gross margin of 73.30% and an operating margin of 10.50% while its profit margin remained 5.60% for the last 12 months.

According to the most recent quarter its current ratio was 3.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.59% from the mean of 20 days, 6.28% from mean of 50 days SMA and performed -13.92% from mean of 200 days price. Company’s performance for the week was -1.03%, 34.38% for month and YTD performance remained -24.40%.

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