Oppenheimer analyst Steven Lichtman maintained a Hold rating on Globus Medical (GMED) today and set a price target of $56. The company’s shares opened today at $47.86.
Lichtman said:
“4Q18 sales were $195.9M versus our/consensus original $188.2M estimates (GMED pre-announced the higher sales in early January). Both US and OUS spinal implants came in above our thinking, with US growing 9%+ yoy and OUS up 13.7%cc; as a reminder, 4Q had an extra selling day. US spinal implant growth was led by robotic implant pull-through and strong sales force recruiting. Emerging Technologies (where Excelsius robot sales are reported) came in slightly below our thinking at $14.3M (+31% yoy) vs. our $16M estimate. 4Q EPS came in ahead at $0.43 vs. our $0.39E on the higher sales, better GM and better than expected operating leverage. Guidance for 2019 was reiterated from early January with sales/EPS at $770M (+~8%)/$1.72.”
According to TipRanks.com, Lichtman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.2% and a 50.3% 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 $54.75 average 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.
