Who is Glasshouse Research? http://www.glasshouseresearch.com/about.html From the appearance of the above, it only lists a total of four (4) research reports, and from viewing its website Glasshouse does not appear to have much going on nor much history. So the question becomes - whose report on Nuvasive should investors rely upon? Should it be Glasshouse?
After today's drop the Motley Fool gave this analysis: NuVasive deals with criticism Finally, shares of NuVasive dropped 7%. The maker of minimally invasive surgical systems focused on spinal procedures was the subject of a negative research report from short-selling analyst GlassHouse Research, which points to recent executive departures and what it calls "accounting irregularities" in arguing that the stock is too highly valued compared to better-established players in the medical device space. GlassHouse claims that an appropriate target price for NuVasive stock would be less than half its current price, but the smaller magnitude of today's drop suggests that most shareholders aren't taking the allegations particularly seriously.
GlassHouse Research is made up of forensic accountants/analysts that have worked for prominent hedge funds on Wall Street as well as boutique forensic accounting firms. Our purpose is to expose...
Zacks TAZR 9/18/17 report said - This morning, Cowen analyst Joshua Jennings issued a report citing that NuVasive shares reflect most investor concerns. Jennings said concerns regarding US spine volumes, insurers push-back, guidance, weather impact, and the CFO departure were all priced-in. Jennings expects investors to begin to focus on the LessRay system, new products, new salespeople, and new surgeon customers, which will drive a recovery in shares. The analyst rates NuVasive an Outperform with an $83 price target.
I think this is good place to catch a turn in a fundamentally sound medical technology company.
Another positive article - Seeking Apha - Stephen Simpson, CFA 9/18/17 A Window Has Opened For NuVasive. Looking for high 60's.
A Window Has Opened For NuVasive
NuVasive has sold off significantly on senior management changes, an OIG subpeona, and concerns about volume weakness in the U.S. spine market, creating a rare
Glasshouse is looking for a $24 price target - they think there are tons of accounting issues.
Adverse Events Tied to First of Its Kind Spinal Device | Qmed
When you have such an expensive stock, any concern will crater it. The exit of the president and COO, along with the CFO spells big trouble. They have plenty of tough competitors who can continue to eat their lunch. Stay away until stock is $42 or 21x earnings.
Trust me this is a very good short. Just ask the employees.
2017 guidance is for $1.13 GAAP - why is the stock over $60?
I think NUVA is due for a pullback. What are your thoughts? check out AWE-some.Stock.s, its a pretty reliable service. of course you have to do your own due diligence, but they generally point you in the right direction.
this company is clueless they are wasting more money on deployment and recruitment of internal talent that does nothing but cost them money....they will invest $20m this year and commit to that number for three years to secure $7m in sales. Management is over its head and looking for the stryker life boat