Globus Medical (GMED) Receives a Buy from Needham

In a report issued on July 12, Michael Matson from Needham reiterated a Buy rating on Globus Medical (GMEDResearch Report), with a price target of $52. The company’s shares closed on Friday at $41.35.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.1% and a 63.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globus Medical with a $50 average price target, which is a 20.9% upside from current levels. In a report issued on July 9, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $55 price target.

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Globus Medical’s market cap is currently $4.09B and has a P/E ratio of 27.97. The company has a Price to Book ratio of 3.31.

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Globus Medical, Inc. operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology.