NuVasive, Inc. (NUVA - Free Report) recently received FDA approval to use the company's redesigned MAGEC system with its RELINE Small Stature system. As per the company press release, RELINE Small Stature is a comprehensive pediatric deformity fixation system which helps achieve optimal construct strength with a reduced implant profile. It is the only small stature system that is compatible with the new 5.0 millimeter MAGEC rod.
The MAGEC system offers the latest magnetic technology within adjustable growing rods to treat early-onset scoliosis in a less invasive manner. The latest upgrades to the MAGEC system will help surgeons carry out surgical procedures with ease and make them more reproducible.
Notably, in order to strengthen its footprint in the $2.5-billion deformity market,NuVasive announced a new initiative to support adult and pediatric deformity research, education, and awareness initiatives throughout 2017. As part of this initiative, the company recently launched the ‘Embracing the Journey Together’ program.
This program involves pediatric spinal deformity research, education and spinal deformity event support, educating surgeons worldwide. The FDA nod for MAGEC system with RELINE Small Stature had helped NuVasive progress with its ‘Embracing the Journey Together’ program.
According to a report by Markets and Markets, the global spinal implants market is estimated to reach a worth of $17.27 billion by 2021, at a CAGR of 5.3%. Looking at the bountiful opportunities in this niche space, we believe the company’s latest development is a strategic fit.
Over the past one month, NuVasive has underperformed the broader industry. Over this period, the company has lost 5.6%, as compared to the 1% gain of the broader industry. We expect the company to turn around with the latest developments.
Zacks Rank & Key Picks
NuVasive carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Edwards Lifesciences Corporation (EW - Free Report) , Lantheus Holdings, Inc. (LNTH - Free Report) and Chemed Corporation . Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while Lantheus Holdings and Chemed carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has rallied roughly 20.7% over the last six months.
Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has gained 27.1% over the last six months.
Chemed has a long-term expected earnings growth rate of 10%. The stock has gained around 7.1% over the last six months.
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