Jefferies analyst Raj Denhoy downgraded NuVasive (NUVA) to Hold from Buy and lowered his price target for the shares to $60 from $68. The analyst remains skeptical of a takeover by Smith & Nephew (SNN) happening, and even if it does, he does not see much opportunity for a bid above $60 per share. NuVasive closed yesterday up 13% to $56.12. And outside of a potential takeover, NuVasive's story is challenging amid slowing spine growth, Denhoy tells investors in a research note.

BTIG notes that seven Medicare Administrative Contractors, or MACs - CGS, WPS, NGS, Palmetto, Novitas, First Coast, and Noridian - this morning published new proposed local coverage determinations, or LCDs, regarding the coverage of skin substitutes grafts and cellular and tissue based products for the treatment of diabetic foot ulcers, or DFUs, and venous leg ulcers, or VLUs. This marks "the second attempt in the past 12 months where MACs have proposed an LCD that would drastically shake up the advanced wound care market," says the analyst, who highlights that the proposed LCD includes non-coverage products from Integra Lifesciences (IART), Organogenesis (ORGO), Smith & Nephew (SNN), MiMedx (MDXG), Anika Therapeutics (ANIK) and numerous smaller, private wound care companies. The firm adds that it thinks Integra and Organogenesis both have meaningful exposure to the LCDs based on their product portfolio and the revenue mix within their Advanced Wound Care businesses.