Market Overview

Cantor Fitzgerald Taps Spinal Stocks: 4 Top Picks

Cantor Fitzgerald Taps Spinal Stocks: 4 Top Picks

Spine stocks were steadied with supportive coverage from the Street this week. 

The Ratings

Cantor Fitzgerald analysts Craig Bijou and Jordan Abrams initiated coverage on:

  • Globus Medical Inc (NYSE: GMED) with an Overweight rating and $65 price target;
  • K2M Group Holdings Inc (NASDAQ: KTWO) with an Overweight rating and $28 price target;
  • Orthofix International NV (NASDAQ: OFIX) with an Overweight rating and $62 price target; and
  • SeaSpine Holdings Corp (NASDAQ: SPNE) with an Overweight rating and $16 price target.

They also initiated on Mazor Robotics Ltd - ADR (NASDAQ: MZOR) and NuVasive, Inc. (NASDAQ: NUVA) with Neutral ratings and respective targets of $57 and $54.

The Thesis

The analysts consider the spine segment — a $9-billion global opportunity — to be the largest orthopedic market and one of the biggest medical device end markets.

“While the spine market has faced a bevy of headwinds and challenges over the last 18 months that [have] suppressed growth, we believe that spine is still an important and relevant market,” Bijou and Abrams said in a note.

In the near-term, the analysts said they expect the Overweight-rated stocks to secure sales and seize share through their differentiated technology, appeal to surgeons and emphasis on growing niches around the spine.

Price Action

Orthofix closed up 1.4 percent Friday, while Globus, K2M and SeaSpine finished the session marginally higher.

Related Links:

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JPMorgan Diagnoses The MedTech Space: Stock Picks And Pans

Latest Ratings for GMED

Nov 2019MaintainsEqual-Weight
Nov 2019MaintainsBuy
Nov 2019MaintainsOverweight

View More Analyst Ratings for GMED
View the Latest Analyst Ratings

Posted-In: Cantor Fitzgerald Craig BijouAnalyst Color Health Care Price Target Initiation Analyst Ratings General Best of Benzinga


Related Articles (GMED + KTWO)

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