Investors Cautions on Globus Medical (GMED) as Lockup Expiration Looms
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Price: $82.97 +0.52%
Rating Summary:
22 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
22 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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Today analysts at Canaccord Genuity maintained a Buy rating on Globus Medical (NYSE: GMED) and raised its price target to $22.00 (from $20.00).
Analyst William J. Plovanic said, "Looking into 2013 we are becoming increasingly positive on Globus given its valuation and its ability to generate cash. Further, recent product introductions showcased during October's North American Spine Society meeting reinforce our thesis that Globus will continue to develop products capable of taking share and attracting top distribution talent."
Despite this, Plovanic thinks investors will take a wait-and-see approach near-term, especially in light of post-IPO lock-up expiration on January 30.
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 $11.59 yesterday.
Analyst William J. Plovanic said, "Looking into 2013 we are becoming increasingly positive on Globus given its valuation and its ability to generate cash. Further, recent product introductions showcased during October's North American Spine Society meeting reinforce our thesis that Globus will continue to develop products capable of taking share and attracting top distribution talent."
Despite this, Plovanic thinks investors will take a wait-and-see approach near-term, especially in light of post-IPO lock-up expiration on January 30.
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 $11.59 yesterday.
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