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Fly News Breaks for August 14, 2018
NUVA
Aug 14, 2018 | 05:18 EDT
Piper Jaffray analyst Matt O'Brien raised his price target for NuVasive to $75 following a deep dive into the company's new Pulse system, which management is set to unveil during the upcoming North American Spine Society meeting. Pulse represents a "compelling one-stop shop technology that will provide significantly more features than other navigation or robotic systems out there," O'Brien tells investors in a research note. The analyst believes Pulse addresses a $225M Greenfield market, where surgeons do not currently use any navigation, as well as a $125M per year replacement cycle category, where centers already use some type of surgical assistance. Further, he thinks NuVasive's partnership with Siemens will provide additional selling opportunities for both Pulse and LessRay. O'Brien keeps an Overweight rating on the shares.
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