Brean Capital Raises Price Target on NuVasive (NUVA) Following 2Q EPS Beat

Brean Capital reiterated a Buy rating on NuVasive (NASDAQ: NUVA), and raised the price target to $56.00 (from $55.00), following a 2Q15 EPS beat. NUVA reported non-GAAP EPS of $0.31, $0.06 above consensus estimates of $0.25. Revenues for the quarter came in at $202.9M, versus consensus of $200.7M. NUVA raised its 2015 non-GAAP EPS guidance to $1.17 from $1.10.

Analyst Jason Wittes commented, "NUVA reported 2Q15 non-GAAP EPS of $0.31, $0.06 above consensus and our estimate of $0.25. Revenues for the quarter grew 6.4% (8.5% constant currency) to $202.9 million, versus our estimate of $203.6 million and consensus of $200.7 million. For 2015, the company continues to expect approximately $810 million in revenues (6.2% growth/7.9% cc), versus consensus of $812 million and our estimate of $813 million. Additionally, the company has raised its 2015 non-GAAP EPS guidance to $1.17 from prior guidance of $1.10 – we are raising our estimate to $1.18. We maintain our Buy rating and raise our target price to $56 (from $55), based on a 14-15x 2016 EV/EBITDA."

For an analyst ratings summary and ratings history on NuVasive click here. For more ratings news on NuVasive click here.

Shares of NuVasive closed at $50.47 yesterday.

You May Also Be Interested In

• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading
• China Telecom (728:HK) (CHA) PT Raised to HK$4.80 at HSBC
• ASM Pacific Technology (522:HK) (ASMVF) PT Raised to HK$106 at HSBC