NuVasive Updates 2017 Guidance; Announces $100 Mln Share Repurchase Program

(RTTNews) - NuVasive, Inc. (NUVA) announced, for 2017, the company now expects non-GAAP earnings per share of approximately $1.91, compared with the prior expectation of $2.00. Revenue is estimated to be approximately $1.030 billion for 2017, compared to a prior expectation of $1.065 billion.

Third-quarter non-GAAP earnings per share was up 30% from prior year to $0.52. Revenue increased 3.2% to $247.4 million, or 3.4% on a constant currency basis.

NuVasive also announced that its Board approved a share repurchase program authorizing the purchase of up to $100 million of the company's common stock over a three-year period commencing October 25, 2017. The share repurchase program is expected to continue through October 2020.