Financial

Needham & Company Reiterates a ‘Strong Buy’ on NuVasive (NUVA)

Needham & Company reiterates a ‘Strong Buy’ rating on NuVasive Inc. (NasdaqNUVA), price target $60.

Needham analyst says, “We expect significant upside to NUVA’s share price if NUVA continues to meet or beat numbers and demonstrates EPS leverage in 2010. Revenue growth far exceeds industry average and is sustainable for several years with continued market share gains. NUVA is expected to grow sales 33% in 2010, 28% in 2011, and 26% in 2012. Our medtech industry average is nearly half of NUVA’s growth rate, yet NUVA is trading at 2.4x forward rev estimate, compared to the medtech average of 3.0x.”

To see all the upgrades/downgrades on shares of NUVA, visit our Analyst Ratings page.

NuVasive, Inc. (NuVasive) is a medical device company. It focuses on the designing, developing and marketing of products for the surgical treatment of spine disorders.

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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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