NuVasive shares jumped 10 percent yesterday. Here's why, according to Motley Fool.
1. NuVasive reported better-than-expected second quarter financials, with its minimally invasive spine surgery product sales up 6.4 percent year-over-year to around $203 million. Earnings per share expanded 322 percent to $0.20 for the second quarter.
2. There is an increasing demand for spine surgery and spine products, and NuVasive is making gains in market share. The company estimates full year sales at $810 million, which is up 6.2 percent.
3. Earnings growth for the full year is expected to top 74 percent over 2014.
4. The company settled with the Department of Justice in an alleged false or improper claims case and the final amount NuVasive paid, $13.5 million, was less than some projected. The company can now focus more on growth.
5. As the third largest player in the market, NuVasive still has room for growth. The company will likely report significant profit growth in the coming year, according to the report.