In a report released yesterday, Caitlin Cronin from Canaccord Genuity maintained a Buy rating on Globus Medical (GMED – Research Report), with a price target of $101.00.
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Caitlin Cronin’s rating is based on several key factors driving Globus Medical’s promising outlook. The company has demonstrated a strong financial performance by exceeding expectations in both revenue and earnings, coupled with generating record free cash flow. This success is attributed to the growth in their U.S. spine operations and enabling technologies, along with international market strength.
Moreover, Globus Medical has an aggressive strategy for growth, highlighted by a record number of planned product launches and significant synergy capture from recent mergers. The proposed acquisition of Nevro is seen as a strategic move, enhancing Globus Medical’s capabilities in spinal cord stimulation and expanding their portfolio. With expectations to return to a debt-free status soon, Caitlin Cronin maintains a Buy rating, anticipating continued innovation and integration successes through 2025 and beyond.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GMED in relation to earlier this year.