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A Quick Look at Today's Ratings for Globus Medical(GMED.US), With a Forecast Between $85 to $100

Moomoo News ·  Nov 6 21:00  · Ratings

On Nov 06, major Wall Street analysts update their ratings for $Globus Medical (GMED.US)$, with price targets ranging from $85 to $100.

Wells Fargo analyst Vik Chopra maintains with a buy rating, and adjusts the target price from $78 to $88.

Needham analyst David Saxon maintains with a hold rating.

BTIG analyst Ryan Zimmerman maintains with a buy rating, and maintains the target price at $87.

RBC Capital analyst Shagun Singh Chadha maintains with a buy rating, and adjusts the target price from $80 to $92.

Piper Sandler analyst Matthew O'Brien maintains with a buy rating, and adjusts the target price from $80 to $100.

Furthermore, according to the comprehensive report, the opinions of $Globus Medical (GMED.US)$'s main analysts recently are as follows:

  • Globus Medical is anticipated to return to mid-to-high single-digit sales growth and mid-30's EBITDA margins. The company's earnings outperformance was noted as 'impressive,' driven by robust sales and increasing cost synergies.

  • Globus Medical has demonstrated consistent performance beyond expectations, particularly in managing the integration of NuVasive more effectively than anticipated, which justifies an improved valuation multiple due to better integration execution and enhanced profitability. Nonetheless, there are challenges ahead, such as realizing cross-selling synergies, which may prove difficult in light of upcoming competition in the spine robot market, potentially complicating the achievement of projected growth rates.

  • Globus Medical is demonstrating the effectiveness of spine mergers, contrary to common skepticism, as evidenced by their recent third-quarter earnings surpass and raised forecasts. The company's strict financial discipline and operational execution appear to be generating a synergistic effect, which is expected to result in a substantial conversion of free cash flow, potentially fueling share repurchases.

  • The firm is of the opinion that a strong third-quarter performance, coupled with increased guidance and positive revisions to consensus estimates, should contribute to the stock's appreciation and bolster investor confidence.

Here are the latest investment ratings and price targets for $Globus Medical (GMED.US)$ from 6 analysts:

StockTodayLatestRating_mm_206940_20241106_en

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

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