Morgan Stanley analyst Jonathan Demchick maintained a Buy rating on Globus Medical (NYSE: GMED) today and set a price target of $64. The company’s shares closed yesterday at $54.08, close to its 52-week high of $57.55.
Demchick has an average return of 16.5% when recommending Globus Medical.
According to TipRanks.com, Demchick is ranked #1849 out of 4877 analysts.
Globus Medical has an analyst consensus of Moderate Buy, with a price target consensus of $60.57, which is a 12.0% upside from current levels. In a report issued on September 13, Piper Jaffray also maintained a Buy rating on the stock with a $58 price target.
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Based on Globus Medical’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $44.98 million. In comparison, last year the company had a net profit of $28.67 million.
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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.
