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Tue, Jan. 12, 8:07 AM
- On a preliminary basis, NuVasive (NASDAQ:NUVA) expects total revenue for Q4 and full-year 2015 to be ~$215M (+5%) and ~$811M (+6%), respectively. Non-GAAP operating margin should exceed guidance of 15.2%.
- For 2016, revenues are expected to be $870M (+7%). The Ellipse Technologies acquisition should add $0.01 to EPS this year and $0.18 in 2017.
- Final results and more detailed guidance will be announced in mid-February.
Tue, Jan. 5, 4:36 PM
- NuVasive (NASDAQ:NUVA) acquires privately held Ellipse Technologies for $380M cash upfront and a potential $30M milestone payable in 2017 related to specific revenue targets. NUVA expects the transaction to accelerate its top line growth in the high-single-digit range and be slightly accretive to its non-GAAP EPS in the first year and significantly accretive thereafter.
- Ellipse develops devices used in orthopedic surgery. Its PRECICE device is an intramedullary nail used to lengthen the femur and tibia and MAGEC is a spinal bracing and distraction system.
- NuVasive will host a conference call today at 5:00 pm ET to discuss the deal.
Dec. 10, 2015, 11:11 AM
- NuVasive (NUVA +1.3%) hosts its Investor Day today in San Diego during which it will present its long-term goals to drive growth and margin expansion. The goals include:
- Constant currency organic revenue growth of mid-to-high single digit with a near doubling of the revenue contribution from international operations.
- Non-GAAP operating profit expansion of ~10% to ~25%.
- Non-GAAP EBITDA margin expansion of ~6.6% to ~32%.
- Reduction of effective tax rate to ~30% from today's ~43%.
- Expanding free cash flow to a CAGR of ~25%.
- Management also reaffirms its 2015 revenue guidance of ~$810M.
- 2016 expectations include revenues of ~$870M and a 100-basis point expansion in operating profit margin versus 2015.
Oct. 27, 2015, 4:11 PM
- NuVasive (NASDAQ:NUVA): Q3 EPS of $0.35 beats by $0.08.
- Revenue of $200.5M (+5.6% Y/Y) beats by $0.3M.
- Shares +1.9%.
Oct. 26, 2015, 5:35 PM
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Oct. 9, 2015, 10:00 AM
- Thermo Fisher Scientific (TMO +0.3%) initiated with Buy rating and $145 (15% upside) price target by Argus.
- Fate Therapeutics (FATE +0.4%) initiated with Outperform rating and $8 (41% upside) price target by Raymond James.
- Ocata Therapeutics (OCAT +2.1%) initiated with Outperform rating and $8 (66% upside) price target by Raymond James.
- Eli Lilly (LLY +2.8%) upgraded to Outperform from Neutral by Credit Suisse. Price target raised to $105 (22% upside) from $89.
- Abbott Laboratories (ABT +1%) upgraded to Overweight from Equal Weight by Barclays. Price target lowered to $52 (26% upside) from $55.
- NuVasive (NUVA -1.6%) upgraded to Buy from Hold by Canaccord Genuity. Price target raised to $58 (16% upside) from $52.
- Amicus Therapeutics (FOLD +5.4%) upgraded to Buy from Neutral with an $8 (11% upside) price target by Chardan Capital.
- Bluebird bio (BLUE +1.5%) upgraded to Overweight from Equal Weight by Morgan Stanley. Price target maintained at $143 (61% upside).
- Pfizer (PFE +0.5%) upgraded to Outperform from Equal Weight by Morgan Stanley. Price target raised to $38 (15% upside) from $35.
- Vertex Pharmaceuticals (VRTX +1.2%) upgraded to Overweight from Equal Weight by Morgan Stanley. Price target raised to $148 (35% upside) from $118.
- Alexion Pharmaceuticals (ALXN -0.2%) upgraded to Overweight from Equal Weight by Morgan Stanley. Price target raised to $211 (29% upside) from $186.
Jul. 29, 2015, 10:08 AM
- NuVasive (NUVA +7.2%) Q2 results: Revenues: $202.9M (+6.4%); COGS: $48.4M (+8.0%); R&D Expense: $8.8M (-12.9%); SG&A: $115.3M (-1.5%); Net Income: $10.3M (+351.2%); EPS: $0.20 (+322.2%); Quick Assets: $278.7M (-23.2%); CF Ops: $35.2M (-27.1%).
- 2015 Guidance: Revenue: $810M; GAAP EPS: $1.18 from $1.12; Non-GAAP EPS: $1.17 from 1.10.
Jul. 28, 2015, 4:10 PM
- NuVasive (NASDAQ:NUVA): Q2 EPS of $0.31 beats by $0.06.
- Revenue of $202.9M (+6.4% Y/Y) beats by $2.19M.
Jul. 27, 2015, 5:35 PM
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Jun. 9, 2015, 11:22 AM
- Amedisys (AMED +5.7%) upgraded to Buy from Hold with a $41 (13% upside) price target by Deutsche Bank.
- Edwards Lifesciences (EW +0.3%) upgraded to Outperform from Market Perform with a $158 (19% upside) price target by BMO Capital.
- Zeltiq Aesthetics (ZLTQ +0.7%) upgraded to Buy from Neutral with a $36 (33% upside) price target by Goldman Sachs.
- NuVasive (NUVA -2%) downgraded to Neutral from Buy with a $52 (8% upside) price target by Goldman Sachs.
May 26, 2015, 8:59 AM
May 4, 2015, 4:21 PM
- NuVasive (NASDAQ:NUVA): Q1 EPS of $0.30 beats by $0.08.
- Revenue of $192.4M (+8.4% Y/Y) beats by $3.1M.
May 3, 2015, 5:35 PM
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Apr. 15, 2015, 1:32 PM
- UnitedHealth Group (UNH -2.5%) upgraded to Buy with a $141 (21% upside) price target by Jefferies.
- AbbVie (ABBV +1.1%) upgraded to Outperform with a $68 (9% upside) price target by BMO Capital Markets. Analyst Alex Arfaei cites improved prospects for Imbruvica and increased confidence that the company can defend Humira against biosimilars.
- Clovis Oncology (CLVS +7.3%) upgraded to Buy with a $117 (27% upside) price target by Goldman Sachs.
- NuVasive (NUVA -4%) downgraded to Hold with a $49 (14% upside from today's down move) price target by Cannaccord Genuity.
- Arrowhead Research (ARWR -3.3%) downgraded to Hold with a $9 (28% upside from today's down move) price target by Jefferies.
- Cellular Dynamics (ICEL +0.1%) downgraded to Market Perform with a $16.50 price target by Leerink Swann (unsurprising since the company is being acquired by Fujifilm for $16.50).
Apr. 1, 2015, 1:03 PM
- NuVasive (NUVA -3%) CEO Alex Lukianov was forced to resign after an internal investigation found that he failed to comply with the firm's expense reimbursement and other policies. According to Director Jack Blair, the amounts involved are immaterial to the company's financial results but Mr. Lukianov's actions "in this regard were not representative of the high standards by which NuVasive operates. We believe this leadership transition is appropriate and in the best interests of the Company and all of our stakeholders."
- Board member Greg Lucier will take over a Chairman and interim CEO until a permanent chief executive is hired.
Apr. 1, 2015, 9:13 AM
NuVasive Inc is a medical device company. The Company develops minimally-disruptive surgical products and procedurally-integrated solutions for the spine. Its currently-marketed product portfolio is focused on applications for spine fusion surgery.
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