Truist Securities has raised its price target for Globus Medical Inc. (GMED) to $115 from $105 and continues to rate the shares as Buy. The stock is trading at $91.88, and analyst price targets across the coverage spectrum range from $90 to $118.
The updated target reflects Truist's application of roughly 13.5 times its 2027 EBITDA forecast and about 23 times its 2027 earnings-per-share estimate, up from previous multiples of 13 times and 22.5 times respectively. Those valuation assumptions now align closely with the peer group one-year forward averages, which Truist cites as approximately 13.3 times enterprise value to EBITDA and roughly 23.5 times price to earnings.
By contrast, Globus Medical currently trades at an EV/EBITDA of 14.72 and a price-to-earnings ratio of 29.89. Truist also notes that its chosen multiples sit about 0.5 times above the company’s own four-year next-twelve-months average on both EV/EBITDA and P/E metrics.
Truist signaled that the higher multiple is justified by better-than-expected margin performance and acceleration in U.S. core spine growth during the fourth quarter. The firm also pointed to materially faster-than-anticipated realization of deal-related synergies and accretion tied to NUVA and NVRO over the past two quarters.
In addition to the multiple increase, Truist raised its 2026-2027 revenue and earnings-per-share forecasts for Globus Medical, which contributed to the higher $115 price target.
Independent analysis by InvestingPro, referenced by Truist, indicates the stock appears undervalued relative to its Fair Value and highlights a Piotroski Score of 9 for the company, a metric that signals strong financial health. The research service lists GMED among more than 1,400 U.S. equities covered by its Pro Research Reports for investors seeking additional company analysis.
Recent company disclosures show preliminary fourth-quarter revenue of about $823 million, representing year-over-year growth of 25%. That preliminary figure exceeded consensus estimates of $778 million. Core revenues were reported at $723 million, up 10% from the prior year.
Market participants have responded to the preliminary results and guidance: Canaccord Genuity and Jefferies both raised their price targets to $112 and $115 respectively while maintaining Buy ratings. Needham upgraded the stock to Buy, pointing to anticipated margin expansion that could drive earnings-per-share improvements by 2026. TD Cowen initiated coverage with a Buy rating and a $110 price target, noting scope for further outperformance. At the same time, Citizens reiterated a Market Perform rating in response to the revenue preannouncement and initial 2026 guidance.
These analyst moves and the preliminary financial data have prompted a reassessment of Globus Medical’s near-term earnings outlook and longer-term valuation, with several firms moving to raise targets amid evidence of margin improvement and faster-than-expected gains from recent acquisitions.