NuVasive's Sluggish Sales Growth Prompts Buybacks
Modern medicine has offered some revolutionary products and techniques, and many companies are looking to help sustain the pace of medical advances. NuVasive's (NASDAQ: NUVA) specialty in spinal surgery has been noteworthy, and that's been good news for the company's fundamental growth prospects as well as its long-term investors. Yet some recent concerns about executive departures and other issues have had some shareholders nervous about NuVasive's immediate future.
Coming into Tuesday's third-quarter financial report, those watching NuVasive wanted to see substantial top-line gains translate into much better earnings. The spinal surgical specialist was able to deliver great bottom-line growth, but sluggish sales didn't point to as much strength as some were looking for. NuVasive's response in announcing a stock buyback could make some short-term oriented traders happy but calls into question whether the company is making the best use of its available capital. Let's look more closely at NuVasive to see what's coming down the road for the company.
Image source: NuVasive.
Source: Fool.com
