Leerink Partners analyst Richard Newitter maintained a Buy rating on Globus Medical (GMED) today and set a price target of $81.00. The company’s shares closed last Tuesday at $69.64, close to its 52-week high of $73.05.
According to TipRanks.com, Newitter is a 5-star analyst with an average return of 27.1% and a 69.3% success rate. Newitter covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Zimmer Biomet Holdings, and Organogenesis Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $77.20 average price target, representing an 8.8% upside. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $81.00 price target.
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Based on Globus Medical’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $233 million and net profit of $52.96 million. In comparison, last year the company earned revenue of $212 million and had a net profit of $45.53 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2021, Dan Lemaitre, a Director at GMED sold 15,384 shares for a total of $961,038.
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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. It operates through the United States and International geographical segments. The company was founded by David C. Paul, David D. Davidar and Andrew Iott in March 2003 and is headquartered in Audubon, PA.
