Morgan Stanley Remains a Hold on Globus Medical (GMED)
In a report released today, David Lewis from Morgan Stanley maintained a Hold rating on Globus Medical (GMED), with a price target of $72.00. The company’s shares closed last Monday at $63.55, close to its 52-week high of $68.24.
According to TipRanks.com, Lewis is a 5-star analyst with an average return of 18.1% and a 75.6% success rate. Lewis covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Irhythm Technologies.
Currently, the analyst consensus on Globus Medical is a Moderate Buy with an average price target of $71.91, implying a 13.5% upside from current levels. In a report issued on February 18, Oppenheimer also maintained a Hold rating on the stock with a $67.00 price target.
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Globus Medical’s market cap is currently $6.29B and has a P/E ratio of 63.50. The company has a Price to Book ratio of 5.02.
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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.