Leerink Partners reiterated an Outperform rating on Globus Medical (NYSE: GMED), and raised the price target to $32.00 (from $30.00), following 2Q results. 2Q sales of $134MM beat consensus by $7M. EPS was reported in line with consensus estimates of $0.25. GMED raised 2015 revenue outlook to $524M (vs. $514M) while EPS is now at $1.04 (vs. $1.01).

Analyst Richard Newitter commented, "GMED delivered another significant revenue beat this quarter marked by an accelerating double-digit y/y sales growth performance (+17.6%) while maintaining 35% EBITDA margin. In all, the quarter reinforces our view that GMED can continue sustaining abovespine-mkt sales growth and well-above-avg. profitability (one of the highest in our coverage) to a greater degree than is appreciated. We reiterate our OP rating with our PT increasing to $32 (vs. $30) on higher estimates and recent group multiple expansion."

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Shares of Globus Medical closed at $27.85 yesterday.