NuVasive: Needham expects some recovery in H2 on multiple growth drivers

NuVasive

26/02/2021 13:04

** Needham expects some recovery in shares of surgical
products maker NuVasive  NUVA.O  in H2 2021
    ** NUVA has been falling since onset of COVID-19 pandemic 
    ** Co withdrew its FY 2020 forecast in Apr last year and did
not reinstitute annual outlook for the remainder of year
    ** Needham analyst points to elective procedure recovery,
new product launches, and expectations of Pulse, NUVA's robotics
system used for spine surgeries, becoming a growth driver
starting in 2H21 
    ** However, brokerage says COVID-19 complicates share trends
   
    ** Co on Thursday said quarterly net sales fell 6% to $291.8
mln, hurt by impact from COVID-19 on elective surgical
procedures in U.S.  urn:newsml:reuters.com:*:nPn44S3ma
    ** Up to Thursday's close, stock fell 15% in the last 12
months

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))