Globus Medical Inc. (GMED) shares plummeted 5.37% in intraday trading on Friday despite the company reporting better-than-expected fourth-quarter earnings and revenue results. The stock's decline can be attributed to an analyst lowering their price target on the medical device maker.
For the fourth quarter of 2024, Globus Medical reported adjusted earnings per share of $0.84, beating the Zacks Consensus Estimate by 10.5%. The company's revenue of $657.3 million also surpassed expectations, rising 6.6% year-over-year. The strong performance was driven by increased sales of spine products and enabling technologies.
However, Wells Fargo analyst Vik Chopra lowered the firm's price target on Globus Medical to $93 from $95, while maintaining an Overweight rating on the stock. The analyst's price target adjustment likely contributed to the sell-off in GMED shares during Friday's trading session.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。