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NUVA

NuVasive

$57.80

-0.68 (-1.16%)

, EFII

Electronics for Imaging

$41.56

-0.03 (-0.07%)

11:21
09/19/17
09/19
11:21
09/19/17
11:21

NuVasive slides as GlassHouse Research sees 'profusion of accounting red flags'

GlassHouse Research noted in a report this morning that NuVasive's (NUVA) President/COO and CFO are leaving abruptly at a time when "there is a profusion of accounting red flags" at the company. "Our analysts do not believe in coincidences at this scale and based on our own expertise, we believe this will turn out badly for all involved at NuVasive," GlassHouse contended. Further, GlassHouse Research believes the accounting issues at NuVasive are worse than those at Electronics for Imaging's (EFII), and that the company will "miss badly to the downside" in the upcoming one to three quarters. The medical device company is trading down almost 4% to $55.70 in late morning trading.

NUVA

NuVasive

$57.80

-0.68 (-1.16%)

EFII

Electronics for Imaging

$41.56

-0.03 (-0.07%)

  • 19

    Sep

  • 20

    Sep

  • 21

    Sep

NUVA NuVasive
$57.80

-0.68 (-1.16%)

08/28/17
08/28/17
DOWNGRADE

Underperform
NuVasive downgraded to Underperform at Needham
As previously reported, Needham analyst Mike Matson downgraded NuVasive (NUVA) to Underperform from Hold saying that his math indicates that consensus revenue estimates require an acceleration in its market share gains but NuVasive's rate of market share gain is more likely to decrease given the improving spine performance at Medtronic (MDT). Further, the analyst believes that slower revenue growth is likely to limit operating leverage putting consensus EPS estimates at risk as well. Matson expects NuVasive's revenue growth to approach the mid-single digits and its EPS growth to approach the mid-teens.
09/07/17
BTIG
09/07/17
INITIATION
BTIG
Buy
NuVasive initiated with a Buy at BTIG
BTIG analyst Ryan Zimmerman started coverage of NuVasive with an $82 price target and a Buy rating. The analyst says that the company's "innovative product offerings" have enabled its growth to exceed that of its market. The analyst notes that the company has taken steps to improve its operating profitability, and he thinks that the recent decline in the stock has created "a compelling entry point."
09/07/17
PIPR
09/07/17
NO CHANGE
PIPR
Overweight
Piper 'strongly' encourages buying NuVasive on recent pullback
Piper Jaffray analyst Matt O'Brien believes NuVasive's acquisition of Vertera, while small, is an "interesting technology/patent play for the long term." The analyst "strong" encourages investors take advantage of the recent pullback to start or build positions in the name. He keeps an Overweight rating on the shares with a $90 price target.
09/18/17
COWN
09/18/17
NO CHANGE
Target $83
COWN
Outperform
NuVasive shares reflect most investor concerns, says Cowen
Cowen analyst Joshua Jennings said NuVasive shares likely reflect most investor concerns regarding US spine volumes, insurers push-back, guidance, weather impact, and the CFO departure. Jennings expects investors to begin to focus on the LessRay system, new products, new salespeople, and new surgeon customers, which will drive a recovery in shares. The analyst rates NuVasive an Outperform with an $83 price target.
EFII Electronics for Imaging
$41.56

-0.03 (-0.07%)

09/06/17
LBOW
09/06/17
UPGRADE
LBOW
Neutral
Electronics for Imaging upgraded to Neutral from Underperform at Longbow
09/07/17
SBSH
09/07/17
INITIATION
Target $53
SBSH
Buy
Electronics for Imaging reinstated with a Buy at Citi
Citi analyst Jim Suva reinstated coverage of Electronics for Imaging with a Buy rating and $53 price target. The analyst notes the shares are down 15% since the accounting review was first announced and that the company announced on September 5 no changes to its financial statements.
09/07/17
09/07/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AstraZeneca (AZN) initiated with an Outperform at BMO Capital. 2 aTyr Pharma (LIFE) initiated with an Overweight at Piper Jaffray. 3. Electronics for Imaging (EFII) reinstated with a Buy at Citi. 4. NextEra Energy (NEE) reinstated with an Overweight at JPMorgan. 5. Energy Recovery (ERII) initiated with an Overweight at Capital One. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/12/17
SBSH
09/12/17
NO CHANGE
Target $53
SBSH
Buy
Electronics for Imaging recent pullback an attractive opportunity, says Citi
Citi analyst Jim Suva views the pullback in Electronics for Imaging shares since the company announced a material weakness in internal controls on August 3 as a buying opportunity. The company last night announced it will not need financial restatements. While an embarrassment to the company, fundamentally nothing has changed, Suva tells investors in a research note. He believes the selloff "presents an attractive opportunity" and keeps a Buy rating on Electronics for Imaging with a $53 price target.

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Medtronic

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RIGL

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