In a report released yesterday, Ryan Zimmerman from BTIG maintained a Hold rating on Globus Medical (GMED). The company’s shares closed yesterday at $43.18.
Zimmerman wrote:
“With GMED having lapped the initial launch of ExcelsiusGPS we wanted to explore GMED’s Trauma portfolio in more depth (as it may likely be a growth driver in FY20 and beyond). We looked at GMED’s growing portfolio of trauma systems and compared it to other large players in the Trauma space anatomically cross-referencing systems. We note that our list is not all encompassing, there are numerous companies that compete in trauma, many smaller players that have niche systems in anatomical areas where it may not make sense for larger companies to focus on. Success in trauma is predicated on broadening anatomical coverage through a multi-system portfolio in order to gain share at a given IDN. Share is also won doctor by doctor through improvements to the trauma orthopedists’ experience.”
According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 37.6% and a 65.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $53.50 average price target, which is a 23.9% upside from current levels. In a report issued on May 3, Oppenheimer also maintained a Hold rating on the stock with a $52 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 $33.21 million. In comparison, last year the company had a net profit of $39.54 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Anthony L. Williams, the President of GMED sold 212,082 shares for a total of $9,931,488.
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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.
