Globus Medical falls on Goldman downgrade

|About: Globus Medical (GMED)|By:, SA News Editor

"We see the recent Aetna policy change to deny coverage for cervical interbody devices as shaving approximately 0.8%-0.9% off of our prior 2014 revenue estimates alone," Goldman's David Roman says, adding that the figure "could become more meaningful if additional commercial payers follow suit."

Globus Medical (GMED) is downgraded to Neutral from Buy and Goldman's FY14, FY15, and FY16 revenue projections are cut by 0.9%, 1%, and 1.4% respectively.

Price target cut to $18 from $19.

GMED -3.6% premarket.