BTIG analyst Ryan Zimmerman maintained a Hold rating on Globus Medical (NYSE: GMED) today. The company’s shares closed yesterday at $51.39.
Zimmerman noted:
“While robotics has been the big focus for GMED shares as of late, we wanted to dig into the other side of Emerging Technologies (i.e. Trauma) and see how GMED is progressing with its sales force build-out. We reviewed public LinkedIn data on GMED’s trauma sales team to put together a snapshot of the sales force in its current form. In reviewing this data, we asked whether meaningful rev. could come sooner than guided (mgmt. has stated they expect minor rev in FY18, some rev in FY19, and more meaningful rev in FY20). Our analysis indicates that GMED is still midway through the build out of its trauma sales force with ~20 sales representatives (per LinkedIn) with an avg. tenure of ~9-10 months at GMED. Consistent with mgmt. commentary, we believe that it may still be early to expect meaningful rev.”
According to TipRanks.com, Zimmerman is a 4-star analyst with an average return of 25.4% and a 59.2% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, OrthoPediatrics Corp, and SeaSpine Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $58.14 average price target.
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Based on Globus Medical’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $39.54 million. In comparison, last year the company had a net profit of $28.67 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock.
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Globus Medical, Inc. is a medical device company, which engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.
