In a report released yesterday, Matt Miksic from Barclays reiterated a Buy rating on Globus Medical (GMED – Research Report), with a price target of $83.00. The company’s shares closed yesterday at $55.00.
According to TipRanks, Miksic is a 5-star analyst with an average return of 6.4% and a 61.85% success rate. Miksic covers the Healthcare sector, focusing on stocks such as InMode, Medtronic, and Globus Medical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $66.56 average price target, implying a 21.02% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $64.00 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 revenue of $383.64 million and a net profit of $998 thousand. In comparison, last year the company earned a revenue of $254.15 million and had a net profit of $47.43 million
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Globus Medical (GMED) Company Description:
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.
Read More on GMED:
- Globus Medical backs FY24 EPS view $2.68 to $2.70, consensus $2.69
- Globus Medical reports Q4 EPS 60c, consensus 61c
- Globus Medical Reports Fourth Quarter and Full Year 2023 Results
- Globus Medical Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call
- Globus Medical Promotes Keith Pfeil to COO and CFO
