On Nov 06, major Wall Street analysts update their ratings for $Globus Medical (GMED.US)$, with price targets ranging from $85 to $100.
Wells Fargo analyst Vik Chopra maintains with a buy rating, and adjusts the target price from $78 to $88.
Needham analyst David Saxon maintains with a hold rating.
BTIG analyst Ryan Zimmerman maintains with a buy rating, and maintains the target price at $87.
RBC Capital analyst Shagun Singh Chadha maintains with a buy rating, and adjusts the target price from $80 to $92.
Piper Sandler analyst Matthew O'Brien maintains with a buy rating, and adjusts the target price from $80 to $100.
Furthermore, according to the comprehensive report, the opinions of $Globus Medical (GMED.US)$'s main analysts recently are as follows:
Globus Medical is anticipated to return to mid-to-high single-digit sales growth and mid-30's EBITDA margins. The company's earnings outperformance was noted as 'impressive,' driven by robust sales and increasing cost synergies.
Globus Medical has demonstrated consistent performance beyond expectations, particularly in managing the integration of NuVasive more effectively than anticipated, which justifies an improved valuation multiple due to better integration execution and enhanced profitability. Nonetheless, there are challenges ahead, such as realizing cross-selling synergies, which may prove difficult in light of upcoming competition in the spine robot market, potentially complicating the achievement of projected growth rates.
Globus Medical is demonstrating the effectiveness of spine mergers, contrary to common skepticism, as evidenced by their recent third-quarter earnings surpass and raised forecasts. The company's strict financial discipline and operational execution appear to be generating a synergistic effect, which is expected to result in a substantial conversion of free cash flow, potentially fueling share repurchases.
The firm is of the opinion that a strong third-quarter performance, coupled with increased guidance and positive revisions to consensus estimates, should contribute to the stock's appreciation and bolster investor confidence.
Here are the latest investment ratings and price targets for $Globus Medical (GMED.US)$ from 6 analysts:
Note:
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