Jefferies has increased its price target for Globus Medical Inc. (NYSE:GMED) to $120, up from $115, while retaining a Buy rating on the orthopedic device maker's shares.
The brokerage cited Globus Medical's fourth-quarter 2025 reported sales of $826.4 million, a figure the company said represented a 25% increase on a constant-currency basis and exceeded Jefferies' prior estimate of roughly $823 million. The firm's report also highlighted core revenues of $727 million, which climbed 9.4% versus the comparable period.
Investors have responded to the company's recent results and outlook - the stock has gained nearly 50% over the past six months and was trading at $91.88, carrying a market capitalization of about $12.3 billion at the time of the report.
In its release, Globus Medical described the quarter as its best ever in both core and enabling technologies. Management noted progress integrating NVRO, with sales described as stable despite the company pursuing aggressive cost-reduction measures.
For fiscal year 2026, the company left its sales guidance largely unchanged from projections issued in January, while increasing its earnings-per-share guidance by $0.10.
Jefferies said it has lifted its estimates and adjusted its price target based on what it cited as ongoing hiring, product momentum and the disruption of competitors, all factors the firm expects will support future performance.
Other brokerages moved quickly to refresh their views in light of the preliminary fourth-quarter disclosure and the company's subsequent report. Globus had provided a preliminary Q4 revenue figure of approximately $823.2 million, reflecting year-over-year growth of 25.2%.
Excluding contributions from Nevro, fourth-quarter revenue stood at $723.3 million, a 10% increase from the prior year and a result that topped expectations from both Canaccord and consensus estimates.
Following these results, Canaccord Genuity raised its price target to $112 and maintained a Buy rating. Needham upgraded the shares to Buy, calling out an estimated EBITDA margin of 20% and forecasting continued margin expansion. Truist Securities increased its price target to $115, citing synergy gains while keeping a Buy rating. TD Cowen initiated coverage with a Buy rating and a $110 price target, noting potential for further outperformance. Citizens reiterated a Market Perform rating after the company's preannouncement of fourth-quarter revenue and its initial guidance for 2026.
The cluster of analyst revisions and coverage changes reflects an uptick in analyst confidence following the quarter, with InvestingPro data indicating that seven analysts have recently raised their earnings estimates for Globus Medical and suggesting the shares may be undervalued at current levels.
Summary of the company's reported and preliminary metrics: reported Q4 2025 sales of $826.4 million (25% growth excluding FX), core revenues of $727 million (up 9.4%), preliminary Q4 revenue about $823.2 million (25.2% year-over-year growth) and Q4 revenue excluding Nevro of $723.3 million (10% increase).
Management's commentary on integration progress, stable sales amid cost cuts, and a modest increase to EPS guidance, along with multiple brokerages raising targets or upgrading ratings, are the principal developments driving analyst and investor attention.
While the company signaled that its top-line outlook for fiscal 2026 remains essentially aligned with January projections, the slight upward adjustment to EPS guidance and reported margin indicators drew particular note among research desks.