RBC Capital analyst Shagun Singh raised the firm’s price target on Globus Medical (GMED) to $92 from $88 and keeps an Outperform rating on the shares. The company issued solid Q3 results, delivering sales beat of 5% and a robust EPS beat of 51%, driven by solid operational execution that drove 9.6% y/y growth in U.S. spine and better-than-expected Nevro contribution, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GMED:
- Globus Medical: Strong Q3 Performance and Raised Guidance, But Long-term Growth Concerns Justify Hold Rating
- Globus Medical rises 31.6%
- Positive Growth Outlook for Globus Medical Despite Segment Challenges
- Globus Medical price target raised to $114 from $106 at Barclays
- Globus Medical price target raised to $79 from $66 at Wells Fargo