NuVasive weakness overdone, says RBC Capital
After NuVasive reported lower than expected revenue and two seniors managers left the company, contributing to a roughly 14% decline in the stock Friday, RBC Capital analyst Glenn Novarro says that the weakness was overdone. He says that the market is concerned about the U.S. spine market, but he believes that the stock's decline was overdone and he recommends that investors buy the stock at current levels. The analyst does not believe that the managers' departure indicates that the company is losing momentum, and he thinks that its new products will enable it to gain share. Finally, he thinks that the stock's valuation now reflects the "bear case".on the U.S. spine market, and he recommends buying the shares at current levels.