NuVasive stock spikes after news of possible takeover: 4 notes

Spinal Tech

NuVasive's stock jumped 9 percent Nov. 15 after a report that Globus Medical made a preliminary takeover approach, according to Seeking Alpha.

Four notes:

1. Traders told the publication the spine device companies held early discussions about a potential deal.

2. In February 2019, it was reported that Smith+Nephew held talks with NuVasive to acquire the company in a deal exceeding $3 billion, but nothing came to fruition.

3. NuVasive's current market cap is $2.9 billion and its short interest is 7.7 percent, according to Seeking Alpha.

4. In the third quarter, NuVasive posted $270.8 million in net sales, an 8.3 percent decrease from the same period in 2020. Globus Medical posted third-quarter net sales of $229.7 million, a 6.3 percent increase compared with the third quarter of 2020.

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