Globus Medical (GMED) Soars 38.9% on Stellar Q3

Core Insights - Globus Medical Inc. (NYSE:GMED) experienced a significant stock price increase of 38.9% week-on-week, driven by positive analyst ratings and strong third-quarter earnings performance [1] Analyst Ratings and Price Targets - BofA Securities upgraded Globus Medical to a "buy" recommendation from a "neutral" rating, setting a new price target of $91, representing a 47% upside from the previous closing price of $61.71 [2] - Wells Fargo also raised its price target for the company to $79 from $66, reflecting positive sentiment following the earnings report [3] Earnings Performance - In the third quarter, Globus Medical reported a net income increase of 129%, reaching $118.97 million compared to $51.84 million in the same period last year [3] - The company's net sales grew by 22.9%, totaling $769 million, up from $625.7 million year-on-year [3] Revenue Guidance - For the full year, Globus Medical raised its revenue guidance to a range of $2.86 billion to $2.9 billion, which is an increase from the previous lower end of $2.80 billion [4] Company Outlook - The President and CEO of Globus Medical expressed satisfaction with the company's results and emphasized a focus on consistent organic growth through innovation and execution [5]