Wells Fargo Starts NuVasive (NUVA) at Market Perform; Facing Market and Competitive Headwinds
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Price: $39.75 --0%
Rating Summary:
11 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on NuVasive (NASDAQ: NUVA) with a Market Perform. PT range $16-17.
Wells analyst said, "NUVA is the number 5 player in the global spine market. Although NUVA’s top-line growth has outpaced the overall spine market since the company went public in 2004, our rating is based on our belief that: (1) the US spine market (92% of total NUVA sales) will remain under pressure through 2012; (2) physician owned distributors (PODs) will continue to take share from larger players such as NUVA; (3) NUVA will face increasing competition in its core lateral fusion business; (4) NUVA’s margins will decline through 2013; and (5) NUVA’s cash position will constrain its ability to pursue business development activities."
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 $15.88 yesterday.
Wells analyst said, "NUVA is the number 5 player in the global spine market. Although NUVA’s top-line growth has outpaced the overall spine market since the company went public in 2004, our rating is based on our belief that: (1) the US spine market (92% of total NUVA sales) will remain under pressure through 2012; (2) physician owned distributors (PODs) will continue to take share from larger players such as NUVA; (3) NUVA will face increasing competition in its core lateral fusion business; (4) NUVA’s margins will decline through 2013; and (5) NUVA’s cash position will constrain its ability to pursue business development activities."
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 $15.88 yesterday.
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