By Justin Cohen
Article: Several analysts have recently weighed on NuVasive, Inc. (NASDAQ:NUVA), issuing notes to investors. William Plovanic of Canaccord Genuity reiterated their Buy rating on the stock yesterday with a $54.00 price target, or 26.26% upside to the last closing price. According to Tip Ranks, William Plovanic is ranked 87 out of 3582 analysts. The stocks he covers yield an average of 17.60% growth in the one year following his recommendations.
Richard Newitter of Leerink Swann also released a note to investors yesterday reiterating the firms Buy stance on NuVasive.
“Positively, NUVA also pre-announced 1Q sales results that we think point to a solid +9-10 cc sales growth performance. that “exceed $190M including more than $2M of currency headwinds” (vs. consensus at $189M). As the announcement came just hours after the 1Q close, we think that $190M in sales represents a minimum level that will likely be exceeded. As well, “more than 2M” of FX impact would seem to suggest an even higher cc growth rate. Altogether, we think there is a strong possibility that 1Q15 cc growth will come in at 9-10% when the company reports complete results. Importantly, NUVA also noted in this AM’s press release that it remains on track for 2015 profitability goals. In all, fundamentals appear very much intact, and we view this as a positive.”
Newitter also added, “Undoubtedly, some will read into this management transition as a sign of increased take-out prospects. NUVA has been consistently talked about as a take-out, but perhaps less of a willing seller under Mr. Lukianov tenure. Therefore, we expect NUVA could now be considered an asset more likely to be in play under a new CEO. NUVA management will likely remain very focused in the near-term on its goals of driving more profitable sales growth and greater shareholder value as a standalone company. That said, consolidation in orthopedics is happening (i.e. ZMH (OP) / Biomet), and spine is an area ripe for further acquisition activity in our view. Against this backdrop, the fact that NUVA has always been considered a take-out target—not to mention newly appointed interim CEO Lucier’s history of selling companies (i.e., Life Technologies)—we would not be surprised if discussion around a NUVA takeout begins to more aggressively heat up.”
Something bed is in NUVA in, office in Poland is closed in march workers fired,in may office in Ireland will be closed, many workers arround the world are fired.
Pawel, What is your source of this information? If it is first hand, do you know what reasons are cited? Thanks, Drue