BTIG Downgrades Globus Medical (GMED) to Neutral on Spine Business Concerns

On Tuesday, May 27, an analyst from BTIG downgraded Globus Medical Inc. (NYSE:GMED) from Buy to Neutral, citing concerns about its Spine business. The analyst did not assign a price target following the downgrade.

Globus Medical is a medical device company specializing in healthcare solutions primarily for musculoskeletal disorders. In early May, the company reported weaker-than-expected Q1 2025 results, and the analyst believes this could signal further challenges across its business lines, particularly in the Spine division, which has now completed one year since the acquisition of NuVasive Inc.

A doctor in a medical facility demonstrating a procedure with a state-of-the-art medical device.

The downgrade also reflects negative cross-reads from industry peer Medtronic plc (NYSE:MDT), whose Q4 results beat expectations for both organic revenue growth and its 2026 outlook. The analyst suggests that this outperformance may indicate that Medtronic is gaining market share at the expense of competitors, such as Globus.

As a result, the analyst expects Globus Medical to factor in these headwinds and update its FY 2025 guidance. Until the company addresses these challenges, the analyst anticipates the stock will underperform relative to previous expectations.

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Disclosure: None.