BTIG Defending Globus Medical (GMED): 'Share Reaction Overdone'
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Jefferies on Globus Medical (GMED) Warning Letter: 'Not Expected to Have any Material Impact; No Change to Sales Expects; Buy'
August 13, 2024 2:05 PM EDTJefferies analyst Matthew Taylor reiterated a Buy rating and $85.00 price target on Globus Medical (NYSE: GMED)
The analyst comments "GMED stock was down as much as 11% in early trading after an FDA Warning Letter dated 7.15 was posted. We think the... More
Canaccord Genuity Comments on Globus Medical (GMED) Warning Letter: 'we view this issue as growing pains'
August 13, 2024 2:03 PM EDTCanaccord Genuity analyst William J. Plovanic reiterated a Buy rating and $79.00 price target on Globus Medical (NYSE: GMED)
The analyst comments "What happened: We caught up with GMED today regarding the FDA's recent Excelsius GPS warning letter. After performing a normal audit in February, the FDA issued a warning letter to Globus last month requiring GMED to provide more information on a medical device regulation (MDR) 483 observation related to adverse events regarding... More
Truist Securities on Globus Medical (GMED) Warning Letter: 'At First Glance Looks To us Like More "Bark than Bite"'
August 13, 2024 12:49 PM EDTTruist Securities analyst Richard Newitter reiterated a Hold rating and $79.00 price target on Globus Medical (NYSE: GMED)
The analyst comments "Shares of GMED are down -9% this AM (vs. IHI +0.6%) as a result of an FDA Warning letter published this AM. The WL is related to GMED's Excelsius GPS robotic platform in spine and calls out certain deficiencies in... More
Morgan Stanley on Globus Medical (GMED) Warning Letter: 'Manageable with Resolution Already Underway'
August 13, 2024 12:18 PM EDTMorgan Stanley analyst Drew Ranieri reiterated an Equalweight rating and $74.00 price target on Globus Medical (NYSE: GMED).
The analyst comments "Earlier this morning, FDA posted a warning letter to Globus on the agency's website (see here) noting that several reporting methodologies for Excelsius GPS were substandard. While we appreciate warning letter's optics and will... More
Stifel on Globus Medical (GMED) Warning Letter: 'Seemingly Much Ado About Nothing'
August 13, 2024 11:22 AM EDTStifel analyst Mathew Blackman reiterated a Buy rating and $80.00 price target on Globus Medical (NYSE: GMED)
The analyst comments "This morning, FDA posted a Warning Letter relating to Excelsius adverse event data capture/processes/paperwork. We spoke with GMED: (1) the 483/subsequent Warning Letter are... More
