|Over a week ago|
Globus Medical upgraded to Buy from Neutral at BTIG » 06:3303/1803/18/20
BTIG analyst Ryan…
BTIG analyst Ryan Zimmerman upgraded Globus Medical to Buy from Neutral with a $46 price target. The analyst said shares are off 33% from their high at YE19, and essentially discount the entirety of Globus' investments over the past 2 years. Zimmerman acknowledges COVID-19 uncertainties, but sees an asset that can still grow earnings in the low double digits in FY21 as procedures are shifted outward.
Globus Medical buyback 'nice vote of confidence,' says Piper Sandler » 05:0903/1203/12/20
Globus Medical's $200M share repurchase program "represents a nice vote of confidence" in the business and the health of the medical technology space in general, Piper Sandler analyst Matt O'Brien tells investors in a research note. It is encouraging to see that the company is confident in its capital position where it can repurchase shares while continuing to invest in strategic growth opportunities, says the analyst. He reiterates an Overweight rating on Globus Medical with a $65 price target.
Globus Medical announces $200M share repurchase » 17:4203/1103/11/20
Globus Medical announced…
Globus Medical announced the board authorized the repurchase of $200M of the company's common stock. The timing and actual number of shares repurchased will be determined by management at its discretion and will depend on a variety of factors, including market price of the shares, general business and market conditions, applicable legal requirements, and alternative investment opportunities.
Globus Medical price target lowered to $59 from $67 at Credit Suisse » 07:1203/0603/06/20
Credit Suisse analyst…
Credit Suisse analyst Matt Miksic lowered the firm's price target on Globus Medical to $59 from $67 and keeps an Outperform rating on the shares to reflect the potential impact of the coronavirus on the company's major businesses. The analyst lowered his EPS estimates for 2020 and 2021 by 28c and 4c to $1.53 and $2.00, respectively, and his sales estimates for 2020 and 2021 by 6.2% and 0.8% respectively, which now reflect organic growth of 1.6% and 14.8%, respectively.
Piper recommends three Med Tech names amid coronavirus selloff » 06:3003/0303/03/20
BSX, ALGN, MMSI, DXCM, GMED, TELA
Stocks across Medical…
Stocks across Medical Technology and Devices have pulled back due to fears over the coronavirus, with multiples back in-line with three-year averages, Piper Sandler analyst Matt O'Brien tells investors in a research note. In the analyst's coverage, Align Technology (ALGN) and Merit Medical (MMSI) have the most revenue exposure to China, with DexCom (DXCM) and Globus Medical (GMED) among the least exposed large and mid cap names, respectively. The names O'Brien would own, specifically related to the impact of coronavirus on their stock price, are Boston Scientific (BSX), Globus Medical and Tela Bio (TELA) in large, mid-, and small-cap med tech.
|Over a month ago|
Globus Medical backs FY20 EPS view $1.82, consensus $1.88 » 16:4002/2002/20/20
Backs FY20 revenue view…
Backs FY20 revenue view $850M, consensus $853.07M.
Globus Medical reports Q4 EPS 49c, consensus 52c » 16:3902/2002/20/20
Reports Q4 revenue…
Reports Q4 revenue $211.67M, consensus $210.44M. "Globus Medical capped off a great 2019 performance with strong fourth quarter results. Full year revenue was a record $785.4 million, representing a 10.2% increase over 2018, our third consecutive year of double digit growth," said Dave Demski, CEO. "Our organic growth rate in Spine sales far exceeded the market and was the highest among the top 6 spinal implant competitors. We sustained a strong finish in Enabling Technologies, demonstrating our ability to compete effectively against much larger players. We showed significant improvement in adjusted EBITDA, as our second half adjusted EBITDA reached 33.9%, despite heavy investments in INR and Trauma. We launched 17 new products across Spine and Trauma in 2019 and completed significant work on several exciting enhancements to our INR portfolio that are expected to launch in 2020."
Notable companies reporting after market close » 14:0302/2002/20/20
SBAC, ED, OLED, ZS, DBX, COG, FSLR, GMED, FND, TXRH, BYD, BLDR, FSLY, SFM, FIT
Notable companies reporting after the market close, with earnings consensus, include SBA Communications (SBAC), consensus 39c... Consolidated Edison (ED), consensus 80c... Universal Display (OLED), consensus 74c... Zscaler (ZS), consensus 3c... Dropbox (DBX), consensus 14c... Cabot Oil & Gas (COG), consensus 30c... First Solar (FSLR), consensus $2.72... Globus Medical (GMED), consensus 52c... Floor & Decor (FND), consensus 21c... Texas Roadhouse (TXRH), consensus 52c... Boyd Gaming (BYD), consensus 47c... Builders FirstSource (BLDR), consensus 35c... Fastly (FSLY), consensus (11c)... Sprouts Farmers (SFM), consensus 13c... Fitbit (FIT), consensus 3c.
Cantor still bullish on Medical Devices & Suppliers heading into 2020 » 07:2001/1001/10/20
ZBH, GMED, SIBN, SPNE
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Craig Bijou maintains a bullish view of the Medical Devices & Supplies sector heading into 2020. Underlying fundamentals remain strong as favorable demographics should drive procedure volume growth and pricing pressure seems to be held in check, Bijou tells investors in a research note. The analyst's top picks are Zimmer Biomet (ZBH), Globus Medical (GMED), SI-Bone (SIBN) and SeaSpine (SPNE).
Globus Medical guidance looks conservative, says SVB Leerink » 09:0301/0901/09/20
SVB Leerink analyst…
SVB Leerink analyst Richard Newitter notes that Globus Medical's preliminary Q4 revenue results and 2020 revenue/EPS guide were a "little light" relative to expectations, and the stock will likely see some pressure. The analyst thinks management is trying to be conservative and that the outlook sets up for upside. There are "just too many growth engines" heading into next year to think that organic growth won't at least hold steady, let alone accelerate, he contends. Newitter reiterates an Outperform rating, while raising his price target on the shares to $63 from $60 as he feels comfortable keeping his 2020 revenue estimates unchanged and above guidance.