NuVasive (NUVA): Management Meeting Highlights Potential EPS Upside - Piper Jaffray
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Piper Jaffray analyst Matt O'Brien, reiterated his Overweight rating on shares of NuVasive (NASDAQ: NUVA) after meeting with company management (Greg Lucier (CEO), Carol Cox (EVP Strategy and Corporate Communications) and Micah Young (VP, Finance)) on its bus tour. The analyst stated that the meeting was very upbeat and he views the revenue and, more importantly, the earnings outlook "among the best in all of med tech".
The analyst stated the following two key points:
1) "With negative commentary on the health of the spine market here in Q3, NUVA’s management summarily dismissed that notion with its view on domestic volumes."
2) Management expects to generate $1.6B of annual revenue by 2020. NUVA’s internal annual growth projection of 14% through 2020 (assuming mid-point of 2016 guidance) is much more aggressive than what the Street has modeled at 9% ($1.35B revenue target for 2020).
No change to the price target of $70.
Shares of NuVasive closed at $65.47 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NuVasive (NUVA) Reports In-Line Q3 EPS, Trims FY Revenue Guidance
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Visa (V) PT Raised to $97 at UBS on Solid Q4
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!