In a report released yesterday, Matthew Taylor from Jefferies maintained a Buy rating on Globus Medical (GMED – Research Report), with a price target of $105.00.
Matthew Taylor has given his Buy rating due to a combination of factors that highlight Globus Medical’s strong positioning in the market. The company is seen as well-placed within a challenging environment, benefiting from a focus on the U.S. market, a reasonable valuation, and strong business fundamentals. Additionally, recent hiring and product launches have provided momentum, and there is potential for further upside due to conservative guidance and expected synergies.
Moreover, Globus Medical’s recent comments on revenue seasonality do not indicate any underlying issues, as leading indicators remain positive. The company has shown a track record of successful integrations, such as with NUVA, and there is optimism about repeating this success with the upcoming NVRO deal. The anticipated synergies and operational efficiencies, along with continued progress on margins, further support the Buy rating. Taylor also reiterates a price target of $105, reflecting confidence in the company’s future performance.
According to TipRanks, Taylor is a 5-star analyst with an average return of 7.3% and a 55.08% success rate. Taylor covers the Healthcare sector, focusing on stocks such as Dexcom, Edwards Lifesciences, and Stryker.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $88.00 price target.