NuVasive, Inc. announced on Thursday, February 9, 2017 that sales for the fourth quarter ended December 31, 2106 rose 25.9% (excluding currency and acquisitions) or 25.5% on a constant currency basis. Sales for the quarter were $271.1 million, which is up from $215.3 million reported in the fourth quarter of 2015.
NuVasive (NUVA), which is headquartered in San Diego, California, is a leading medical device company focused on spine surgery. For the full year of 2016, sales were $962.1 million, up from $811.1 million in 2015. The following table shows the sales details for 2016.
Glenn Novarro, an analyst with RBC Capital Markets, LLC, said in his report, “We raise our price target to $76 from $73. We continue to believe that NUVA offers medtech investors a unique combination of strong revenue growth, meaningful operating margin leverage, and significant earnings and cash flow growth, unmatched by its mid cap peers.”
Gregory T. Lucier, chairman and chief executive officer of NuVasive, said in a release, “NuVasive delivered record fourth quarter results and exceeded expectations for the full year 2016. By all measures, the Company had a tremendous year executing against our market-share taking initiatives, delivering strong revenue growth, including a return to 20% year-over-year growth in our core International markets.”
Lucier added, “In 2017, we are committed to driving further market expansion, especially in the spine deformity area, while significantly increasing our in-sourced manufacturing capabilities.”
