UPDATE: Oppenheimer Starts Globus Medical (GMED) at Outperform; Lean, Pure-Play
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Price: $85.90 -0.05%
Rating Summary:
22 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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(Updated - August 28, 2012 9:07 AM EDT)
Oppenheimer initiates coverage on Globus Medical (NYSE: GMED) with an Outperform. PT $18.00.
Analyst, Steven Lichtman, said, "GMED is a pure-play spine company that has consistently been growing its market share led by strong new product development and a growing/maturing salesforce. Although it operates in a market that continues to face tough volume and reimbursement headwinds, we believe GMED can counter with its new market opportunities, growing salesforce and international expansion. Our $18 price target is driven by DCF and assumes low teens sales growth over the next three years, significantly faster than the market. Use of GMED's strong balance sheet and expansion in Japan are upside to our long-term estimates and valuation."
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 $15.05 yesterday.
Oppenheimer initiates coverage on Globus Medical (NYSE: GMED) with an Outperform. PT $18.00.
Analyst, Steven Lichtman, said, "GMED is a pure-play spine company that has consistently been growing its market share led by strong new product development and a growing/maturing salesforce. Although it operates in a market that continues to face tough volume and reimbursement headwinds, we believe GMED can counter with its new market opportunities, growing salesforce and international expansion. Our $18 price target is driven by DCF and assumes low teens sales growth over the next three years, significantly faster than the market. Use of GMED's strong balance sheet and expansion in Japan are upside to our long-term estimates and valuation."
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 $15.05 yesterday.
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