NuVasive (NUVA) PT Lowered to $67 at Needham & Company

Needham & Company lowered its price target on NuVasive (NASDAQ: NUVA) to $67.00 (from $69.00) while maintaining a Buy rating as margins disappointed in Q2.

Analyst Mike Matson commented, "NUVA's 2Q18 revenue beat and EPS met consensus. Management reiterated its 2018 revenue guidance and lowered EPS guidance slightly. Organic revenue growth accelerated to 5% in 2Q18 from 2% in 1Q18 as both domestic businesses improved and offset moderately slower international growth. NUVA's revenue guidance requires it to maintain high-single digit growth; we believe that it can do this given new products, easing comps, and stabilization of biologics. And its EPS guidance seems more realistic and we reiterate our Buy rating."

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