Cantor Fitzgerald Sticks to Their Buy Rating for Globus Medical (GMED)

In a report released today, Craig Bijou from Cantor Fitzgerald reiterated a Buy rating on Globus Medical (GMED), with a price target of $60. The company’s shares opened today at $49.

Bijou commented:

“We reiterate our Overweight rating on GMED with a 12-month price target of $60. We think GMED has several top-line growth drivers, including a US core market rebound, early success of emerging technologies and traction of the acquired ATEC international platform. GMED’s best-in-class profitability allows the company to invest organically or inorganically to drive top-line growth and to react to the evolving trends of the spine market. These should bring the company back to the beat-and-raise philosophy of a couple of years ago and help to push the valuation higher.”

According to TipRanks.com, Bijou is a 4-star analyst with an average return of 7.2% and a 60.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $55 average price target, a 12.2% upside from current levels. In a report issued on February 22, Needham also reiterated a Buy rating on the stock with a $57 price target.

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Globus Medical’s market cap is currently $4.8B and has a P/E ratio of 31.67. The company has a Price to Book ratio of 4.05.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. Last month, James Tobin, a Director at GMED sold 37,000 shares for a total of $1,760,926.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Globus Medical, Inc. operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology.