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.