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NUVA

NuVasive

$61.01

0.09 (0.15%)

08:37
01/08/18
01/08
08:37
01/08/18
08:37

NuVasive sees FY18 revenue growth in 'mid-single digits over FY17'

Consensus $1.09B. The company's preliminary outlook for 2018 includes full year revenue growth in the mid-single digits over 2017 revenue results, at least 100 basis points of expansion in non-GAAP operating margin, adjusted EBITDA now in a range of approximately $290 to $300 million, and a substantial tax savings resulting from the tax reform legislation passed late in 2017. When the company provides its full financial outlook for 2018, it will include the expected financial impact of the company's acquisition of SafePassage. In Dec. 2017, NuVasive announced it had entered into an agreement to acquire SafePassage to bolster its NuVasive Clinical Services business and solidify its leadership position as the largest provider of outsourced intraoperative neuromonitoring services. This joining of forces will strengthen the NuVasive IONM business line with more than 550 neurophysiologists and oversight physicians in the U.S.-allowing for the delivery of services to over 1,000 customers and 3,000 surgeons. The acquisition of SafePassage remains on track and is anticipated to close in Jan. 2018, subject to customary closing conditions. The company will also provide additional commentary on the expected impact of U.S. tax reform. NuVasive expects to realize substantial tax savings as a result of the recent passage of the tax bill, An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, which provides for a reduction of the U.S. corporate tax rate from 35% to approximately 21%. The legislation is poised to significantly reduce the future corporate tax rate for NuVasive, which prior to the enactment of the tax overhaul was expected to be approximately 33% on a non-GAAP basis in 2018.

  • 08

    Jan

NUVA NuVasive
$61.01

0.09 (0.15%)

12/15/17
PIPR
12/15/17
NO CHANGE
Target $90
PIPR
Overweight
NuVasive's new lateral ALIF system underappreciated, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien views NuVasive's new lateral anterior lumbar interbody fusion procedure as an underappreciated revenue driver for the company. This as an important introduction for NuVasive as it finally allows the company to access the lower lumbar region with less invasiveness, O'Brien tells investors in a research note. He notes the product will allow NuVasive to compete head-to-head with Medtronic's (MDT) OLIF procedure, which he believes has grown quickly. O'Brien sees the lateral ALIF system adding $30M-$50M to NuVasive sales over the next three to four years, helping to push the stock higher. He keeps an Overweight rating on the stock with a $90 price target.
12/21/17
JPMS
12/21/17
NO CHANGE
JPMS
Overweight
NuVasive among biggest beneficiaries in MedTech from tax reform, says JPMorgan
JPMorgan analyst Robbie Marcus noted that NuVasive announced that it estimates tax law changes should drop its non-GAAP tax rate into the "low 20% range" in 2018, which he said makes it one of the biggest beneficiaries in the MedTech sector from U.S. tax reform. However, he also thinks the tax benefits have been well telegraphed and that much of the expected benefit is already factored into the stock. He maintains an Overweight rating on NuVasive shares.
12/28/17
PIPR
12/28/17
NO CHANGE
PIPR
Piper says own K2M, NuVasive into January conference
Piper Jaffray analyst Matt O'Brien recommends owning shares of K2M Group (KTWO) and NuVasive (NUVA) into a competitor conference that begins on January 8. The analyst is cautious on Zimmer Biomet (ZBH) into the conference. K2M and NuVasive are names to own going into the conference as both will meet or beat Q4 revenue estimates, O'Brien tells investors in a research note. He sees a favorable 2018 outlook for both companies as well as room for multiple expansion. On Zimmer, which the analyst downgraded recently, O'Brien continues to believe the company's turnaround will take longer than investors realize.
01/04/18
NEED
01/04/18
UPGRADE
Target $71
NEED
Buy
NuVasive upgraded to Buy from Underperform at Needham
As reported earlier, Needham analyst Mike Matson upgraded NuVasive two notches, to Buy from Underperform, and set a $71 price target on the shares. Matson says consensus revenue and EPS estimates have declined to more realistic and "likely conservative" levels, while the company's acquisitions of Vertera and SafePassage are likely not factored into consensus. The analyst also expects a 15% increase in NuVasive EPS as a result of the "significant benefit" from lower U.S. corporate tax rates.

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