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Fly News Breaks for January 17, 2018
NUVA
Jan 17, 2018 | 06:03 EDT
Wells Fargo analyst Larry Biegelsen downgraded NuVasive to Market Perform from Outperform and lowered his price target for the shares to $50 from $65. The company's preliminary Q4 results suggest the guidance of mid-single digit growth in 2018 is too aggressive, Biegelsen tells investors in a research note. He believes NuVasive is "facing a number of headwinds," including a "weak" spine market; management departures in 2017 and "lukewarm" surgeon interest in its key new product, LessRay.
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