Needham Reiterates a Buy Rating on NuVasive (NUVA)

By Jason Carr

Needham analyst Michael Matson reiterated a Buy rating on NuVasive (NASDAQ: NUVA) today and set a price target of $80. The company’s shares closed yesterday at $67.56.

Matson noted:

“We believe that new products, improved biologics growth, easing comps, and NUVA’s vertical integration should enable it to see stronger top and bottom line growth in 2H18 and 2019. NUVA has launched a number of new products in 2018 and has more coming (including Pulse in 2Q19) that should enable it to accelerate its revenue growth. And NUVA’s vertical integration effort and cost efficiency initiatives should enable it to exceed its target for ~100 bps of annual operating margin improvement in 2019. We have increased confidence in NUVA’s outlook and we raise our price target to $80 from $67 and reiterate our Buy rating.”

According to, Matson is a 5-star analyst with an average return of 12.7% and a 62.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on NuVasive is a Strong Buy with an average price target of $73.56.

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NuVasive’s market cap is currently $3.47B and has a P/E ratio of 85.52. The company has a Price to Book ratio of 4.45.

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NuVasive, Inc. engages in the development of minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. It offers cervical and spine fusion surgery, cervical plating, and posterior fixation products. The company was founded by Alexis V. Lukianov on July 21, 1997 and is headquartered in San Diego, CA.