Oppenheimer Keeps Their Hold Rating on Globus Medical (GMED)

In a report released today, Steven Lichtman from Oppenheimer maintained a Hold rating on Globus Medical (GMED). The company’s shares opened today at $44.24.

According to TipRanks.com, Lichtman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.2% and a 45.6% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Motus Gi Holdings Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $60 average price target, which is a 35.6% upside from current levels. In a report issued on January 2, Morgan Stanley also downgraded the stock to Hold with a $49 price target.

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Based on Globus Medical’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $35.21 million. In comparison, last year the company had a net profit of $24.38 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.