17.9 C
Sunday, October 1, 2023

NuVasive’s Pulse Platform Bags CE Mark Approval for Latest Design Update

Must read

NuVasive (NUVA) has announced that its Pulse platform has received CE Mark approval for the latest design update, and clinical evaluations are underway in multiple countries throughout Europe. The approval is considered a key commercialization milestone, expected to pave the way for the company’s expanded global launch this year.

With this approved technology, several tools such as radiation reduction, imaging enhancement, rod bending, navigation, intraoperative neuromonitoring, and spinal alignment can be integrated into one platform. Notably, Pulse is expected to increase safety, efficiency, and procedural reproducibility. (See NuVasive stock chart on TipRanks)

Executive Vice-President of Global Business Units at NuVasive, Massimo Calafiore, said, “There is a substantial opportunity for enabling technology adoption in spine surgery, and we are leveraging our expertise in proceduralization to introduce Pulse. This next generation of enabling technology has applications that can be utilized in every spine procedure.”

On June 18,

In a note to investors on June 18, following a two-level indication approval in Q2 for NUVA’s Simplify Disc cervical disc replacement (CDR) system, Needham analyst David Saxon reiterated a Buy rating on the stock with a price target of $80 (17.6% upside potential).

Saxon said, “We expect the Simplify Disc’s launch to help expand the market beyond traditional anterior cervical discectomy and fusion (ACDF) procedures and to bolster NUVA’s growing cervical portfolio. We estimate every ~$10M in Simplify Disc revenue could add ~50-100 bps to NUVA’s 2022 revenue growth and to serve as a tailwind to gross margins.”

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 7 Buys, 4 Holds, and 1 Sell. The average NuVasive price target of $77.45 implies 13.9% upside potential from current levels.

Recent News:
AMMO Shares Rally 9.2% as Q4 Earnings Beat Expectations
Southwest Gas to Acquire Riggs Distler for $855M
PLBY Group Expands Brand Portfolio with Honey Birdette Buyout

The post NuVasive’s Pulse Platform Bags CE Mark Approval for Latest Design Update appeared first on TipRanks Financial Blog.

Source link

More articles

Latest article