NuVasive shares plunge on lowered guidance, $60 million lawsuit loss

November 1, 2010 by MassDevice staff

NuVasive Inc.'s share price took a beating last week after the company lowered its 2010 sales and earnings guidance and lost a trademark infringement case to the tune of $60 million.

NUVA logo

Shares of NuVasive Inc. (NSDQ:NUVA) plunged nearly 30 percent after the company lowered its guidance and suffered a legal setback last week.

The San Diego-based medical device maker, citing lower-than-expected spinal procedure numbers, cut its full-year guidance from sales of $485 million to $495 million to $470 to $495 million, down 3.1 percent on the lower end. Earning per share are now expected to be between $1.61 and $1.64, down 9 percent to 12 percent from $1.77 to $1.87.

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