Roth Capital analyst Jason Wittes notes that it was announced that Globus Medical (GMED) CEO Daniel Scavilla has resigned to become CEO of Dentsply Sirona (XRAY), which the firm views as a strong opportunity. Roth does not expect any major strategic shifts at Globus Medical, as Chairman David Paul continues to play an active leadership role. CFO and COO Keith Pfeil – who was already on the path to CEO – will assume the role, ensuring continuity. Additionally, the company pre-reported Q2 revenue of approximately $745.3M, ahead of consensus expectations of $740.1M, and reiterated full-year guidance. The firm reiterates a Buy rating on Globus shares with a price target of $105.
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Read More on GMED:
- Hold Rating Maintained for Globus Medical Amid CEO Transition and Growth Concerns
- Globus Medical Announces New CEO and CFO
- Globus Medical CEO Daniel Scavilla resigns, Keith Pfeil to succeed
- Globus Medical sees Q2 revenue $745.3M, consensus $738.91M
- Globus Medical reaffirms FY25 EPS view $3.00-$3.30, consensus $3.16