Morgan Stanley cuts Globus to Equal Weight, sees consensus as too aggressive

Morgan Stanley analyst Jonathan Demchick downgraded Globus Medical (GMED) to Equal Weight from Overweight, contending that consensus expectations have become too aggressive and need to be reset. The analyst argues that pent-up demand may have elevated 2018 robotic sales and that Medtronic’s (MDT) Mazor X Stealth approval and bundling efforts may pressure Globus sales in 2019. Demchick lowered his price target on Globus shares to $49 from $64.

https://thefly.com/landingPageNews.php?id=2842413