Canaccord Genuity Maintains a 'Hold' on NuVasive (NUVA); Q3/11 Revenue Miss Apparent, One-time Charges Skew EPS, 2012 Still A Guess
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Price: $39.75 --0%
Rating Summary:
11 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on NuVasive (NASDAQ: NUVA) price target lowered $2 to $19.
Canaccord analyst, William J. Plovanic, says, "We are maintaining our rating following Q3/11 results below our expectations on the top and bottom lines. More importantly, we believe the moving pieces of the Impulse acquisition and the Medtronic IP litigation will leave investors confused about the story moving forward...We have reduced our non-GAAP EPS estimate in 2012 due to the accrual for the royalty to Medtronic. Our valuation is based on our non-GAAP EPS estimate of $1.07 applied to a 17.6x P/E multiple."
For more ratings news on NuVasive click here and for the rating history of NuVasive click here.
Shares of NuVasive closed at $17.79 yesterday.
Canaccord analyst, William J. Plovanic, says, "We are maintaining our rating following Q3/11 results below our expectations on the top and bottom lines. More importantly, we believe the moving pieces of the Impulse acquisition and the Medtronic IP litigation will leave investors confused about the story moving forward...We have reduced our non-GAAP EPS estimate in 2012 due to the accrual for the royalty to Medtronic. Our valuation is based on our non-GAAP EPS estimate of $1.07 applied to a 17.6x P/E multiple."
For more ratings news on NuVasive click here and for the rating history of NuVasive click here.
Shares of NuVasive closed at $17.79 yesterday.
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