Analyst Kallum Titchmarsh of Morgan Stanley maintained a Buy rating on Globus Medical (GMED – Research Report), retaining the price target of $100.00.
Kallum Titchmarsh has given his Buy rating due to a combination of factors that highlight the potential of Globus Medical’s ExcelsiusFlex platform. The system has received positive feedback from surgeons for its precision, user interface, and real-time CT capabilities, which are considered best in class by some users. These features suggest a competitive edge over existing systems like SYK’s Mako and ZBH’s ROSA.
Furthermore, the ExcelsiusFlex has been approved by the FDA for total knee arthroplasty, indicating a potential for revenue growth in the knee market. Surgeons have expressed a willingness to adopt the system, particularly for complex revision cases, once the company’s implant portfolio expands. This positive reception and the system’s innovative features contribute to the Buy rating, reflecting optimism about its future market performance.
Titchmarsh covers the Healthcare sector, focusing on stocks such as Alphatec Holdings, Globus Medical, and Irhythm Technologies. According to TipRanks, Titchmarsh has an average return of 3.0% and a 45.24% success rate on recommended stocks.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $115.00 price target.