Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessGlobus Medical Earns an Upgrade at BTIG, Shares Rise

Globus Medical Earns an Upgrade at BTIG, Shares Rise

Add to Favorite
Added to Favorite


Globus Medical (NYSE:GMED) shares rose more than 2% intra-day today after BTIG analysts upgraded the company to Buy from Neutral, setting a price target of $60. The analysts’ stance reflects a valuation based equally on P/E and EV/EBITDA ratios. After expressing skepticism over the past 9-12 months about the strategic fit and value of Globus Medical’s acquisition of NuVasive, and mourning the loss of Globus’s traditionally high adjusted EBITDA margins, the analysts now see the current stock valuation as more attractive, suggesting a favorable risk-reward balance.
The analysts believe that the market’s potential downside is limited and that, seven months post-merger, management has likely mitigated significant deal-related risks. As Globus Medical enters fiscal 2024, the analysts expect the company to benefit from a strong spine market and to start realizing cost synergies.
The analysts consider the management’s guidance conservative, factoring in significant sales dissynergies, but see potential for upside in EPS as NuVasive’s cost structure is optimized. While they don’t expect a return to mid-30% adjusted EBITDA margins, the analysts anticipate a clear margin improvement trajectory over the next 12-18 months as the company moves past the margin trough of fiscal 2023.

Subscribe to get Latest News Updates

Latest News

You may like more
more