BTIG Defending Globus Medical (GMED): 'Share Reaction Overdone'
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Go back to BTIG Defending Globus Medical (GMED): 'Share Reaction Overdone'
August 13, 2024 2:05 PM EDT
Jefferies 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
August 13, 2024 2:03 PM EDT
Canaccord 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
August 13, 2024 12:49 PM EDT
Truist 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
August 13, 2024 12:18 PM EDT
Morgan 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
August 13, 2024 11:22 AM EDT
Stifel 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
