Globus Medical price target lowered to $88 from $95 at RBC Capital

RBC Capital lowered the firm’s price target on Globus Medical (GMED) to $88 from $95 and keeps an Outperform rating on the shares as part of a broader research note on MedTech ahead of Q3 results. There is broad interest in the Medical Supplies & Devices sector, with multiple opportunities across the landscape and attractive valuations with dislocations creating opportunities, the analyst tells investors in a research note. Sentiment for Globus Medical is neutral going into Q3 however as the Nevro deal is likely to drive a trough margin quarter before it begins its trajectory back to industry leading margins, the firm added.