BTIG Reiterates Neutral Rating on Globus Medical (GMED)

BTIG analyst Ryan Zimmerman reiterated a Neutral rating on Globus Medical (NYSE: GMED).

The analyst commented: "We took a closer look at the underperformance of Nevro, GMED's recently acquired spinal cord stimulation (SCS) asset, evaluating internal execution, competitive dynamics, and broader regulatory dynamics that could be impacting demand. Given the volatility in Nevro's performance since the sales force compensation transition late in FY25, it raises the question: where does Nevro go from here? Perhaps most pointedly, we're also asking why GMED bought Nevro in the first place, and if it can be woven into the Excelsius ecosystem in a meaningful way as mgmt. has alluded to. As of now, there is nothing material that proves this was a good decision, and the commercial disruption has only made that case harder to make. Nevro is a show-me story at this stage. The thesis for recovery exists: sales force rebuilding, improving margins, and a potential 4Q26 trial volume inflection. However, the burden of proof is high, and until trial volumes and revenue actually recover, it is difficult to argue that the acquisition has been additive to GMED. We maintain our Neutral."

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 $74.16 yesterday.

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