BofA analyst Craig Bijou upgraded Globus Medical (GMED) to Neutral from Underperform with a price target of $97, up from $80, after the company preannounced Q4 revenue that was 3% above the Street view. This was “an important quarter” as it marks a year since the salesforce integration began, notes the analyst, who says Globus has managed the integration of NuVasive better than the firm expected. BofA now sees less risk of dis-synergies moving forward, the analyst added.
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Read More on GMED:
- Closing Bell Movers: Penguin Solutions up 16% on earnings beat
- Globus Medical sees Q4 revenue $657M, consensus $635.46M
- Globus Medical raises FY24 revenue view to $2.52B from $2.49B-$2.5B
- Globus Medical sees FY25 EPS $3.40-$3.50, consensus $3.42
- Globus Medical price target raised to $90 from $85 at Truist
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