Canaccord Downgrades Globus Medical (GMED) PT to $90, Maintains Buy Rating

Globus Medical Inc. (NYSE:GMED) is one of the most undervalued stocks to buy and hold for 3 years. On July 22, Canaccord reduced its price target for Globus Medical from $97 to $90 while maintaining a Buy rating. The adjustment showed Canaccord’s updated financial model following the preliminary Q2 2025 results. The preliminary results showed revenues that align with both Canaccord’s and the Street’s consensus expectations.

In Q1 2025, the company reported revenue of $598 million, which was a decrease of 0.8% on a constant currency basis. Non-GAAP EPS increased by 9% year-over-year to $0.68. Free cash flow saw a significant increase of 493% year-over-year, reaching $141 million. The US Spine business showed 2% growth in Q1, while international spine implant growth was 1% on a constant currency basis. Enabling Technology sales, however, decreased by 31% compared to the prior year, and the combined Trauma and NSO business declined by 8% in Q1.

The company launched two new products in Q1 2025 aimed at supporting market penetration and product portfolio. The US spine business exhibited resilience with 2% growth, driven by high retention rates.

Globus Medical Inc. (NYSE:GMED) is a medical device company that develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.