BTIG analyst Ryan Zimmerman has maintained their neutral stance on GMED stock, giving a Hold rating today.
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Ryan Zimmerman has given his Hold rating due to a combination of factors including Globus Medical’s recent financial performance and market conditions. The company reported strong third-quarter results, surpassing revenue expectations and showing improved profitability, particularly with the contribution from Nevro. However, Zimmerman notes that the growth driven by Nevro may not be sustainable in the long term, and the musculoskeletal segment faces challenging comparisons in the upcoming quarters.
Despite raising its guidance for the fiscal year, Zimmerman believes that the shares are fairly valued at present. The company also faces hurdles in its Enabling Technologies segment, which saw a significant decline. While new product launches and increased flexibility for capital deals are positive developments, the overall market conditions and limited margin expansion potential contribute to the Hold rating.
According to TipRanks, Zimmerman is an analyst with an average return of -1.6% and a 40.57% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Glaukos, Intuitive Surgical, and Stryker.