BTIG raises Northwest Natural Gas stock price target on solid operations

BTIG maintained a Neutral rating on Globus Medical (NYSE:GMED) after the medical device company reported disappointing third-quarter results. Globus Medical's revenue fell short of expectations, with $763.7 million in sales compared to BTIG's forecast of $794.6 million and the consensus estimate of $792.4 million. The shortfall was primarily driven by a 25.7% decline in Nevro sales and a 0.7% year-over-year decrease in legacy Globus Medical revenue.

However, the company's adjusted earnings per share exceeded expectations at $1.23, while gross margins were slightly below consensus, and EBITDA margins were marginally higher. Globus Medical has adjusted its full-year guidance to $3.09 billion, a 5.1% year-over-year growth, from a previous range of $3.18 billion to $3.22 billion.

Despite the revenue miss, the stock maintains an attractive valuation with a P/E ratio of 20.82 and a PEG ratio of 0.39, indicating potential undervaluation. Investors can delve deeper into the company's prospects through the Pro Research Report, which is available for GMED and over 1,400 other US equities.