NuVasive Stock Climbs; Company Expects Higher Earnings Than Originally PredictedWednesday, January 15, 2014
Shares for NuVasive Inc. rose 8.5 percent in day trading after the San Diego spinal device maker said its fourth-quarter and 2014 earnings would be higher than expected.
The company said it expects revenue of $189 million for the fourth quarter; up 14 percent from the same reporting period a year ago. For the whole year, NuVasive (Nasdaq: NUVA) said revenue would grow 10 percent to $683 million, and projects sales of $725 million in 2014.
NuVasive has scheduled its full-year and fourth-quarter earnings report for March 3.
Shares closed at $36.66 Jan. 15, up $2.88 from the previous day of trading. The company, which makes devices for spinal surgery, has a market capitalization of $1.64 billion.
NuVasive recently announced that it would increase its workforce at a newly acquired plant in Ohio.