NUVA Amends 2011 Outlook, J.P. Morgan Reports

Monday after the close, NuVasive, Inc. NUVA announced preliminary 4Q results and once again amended its outlook for 2011 ahead of its upcoming presentation at the J.P.Morgan Healthcare conference (Tuesday at 11:30 a.m. EST). “Full year 2010 revenues are now expected to come in at $478M (+29%), implying 4Q sales of $129M (+21%) vs. our $123.3M forecast and the current Street consensus of $123.1M,” J.P. Morgan writes. “Note, that this includes approximately $2M related to a legal settlement during the quarter. “However, even if we exclude this, fourth quarter revenues still topped consensus by roughly $4M and drove full year sales above the high end of management's prior $470-475M guidance range. On the bottom line, adjusted EPS are also now expected to come in ahead of the company's prior $1.42-1.45 forecast (JPMe: $1.43).” NuVasive closed Monday at $26.44.