Globus Medical (GMED): Notes From Investor Field Trip - Piper Jaffray

Piper Jaffray analyst, Matt O'Brien, hosted a group of investors at Globus Medical's (NYSE: GMED) Audubon, PA, facility and met with CFO Dan Scavilla and VP of Business Development Brian Kearns. Additionally, he toured the company’s new product room and received an up close look at the new Excelsius robot.

Following the disruption that impacted Q1 results, management indicated that the source of the modest shortfall was due to a handful of reps leaving. Since then, GMED has stabilized its sales force and is back to adding reps at a pace needed to capture market share.

Int’l Investments Should Yield Strong Performance, M&A a Possibility.

The analyst anticipates GMED will see some uptake of its robotic product during 2017, with improving performance thereafter. The new robotic system from Mazor (partner of Medtronic) may impact GMED’s outlook but the analyst believes there are a number of potential customers available to both parties.

No change to Overweight rating or price target of $29.00

For an analyst ratings summary and ratings history on Globus Medical click here. For more ratings news on Globus Medical click here.

Shares of Globus Medical closed at $23.91 yesterday.

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