NuVasive (NUVA): Management Meeting Highlights Potential EPS Upside - Piper Jaffray
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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.
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