Globus Medical, Inc. (NYSE:GMED) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $88.8182.

Several research firms have commented on GMED. Stifel Nicolaus initiated coverage on shares of Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 target price on the stock. Wells Fargo & Company raised their price objective on Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Royal Bank Of Canada upped their target price on Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Truist Financial upgraded Globus Medical from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $93.00 in a report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th.

Globus Medical Price Performance

Shares of GMED stock opened at $84.34 on Friday. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $94.93. The stock’s 50-day moving average is $62.30 and its two-hundred day moving average is $60.45. The firm has a market cap of $11.39 billion, a P/E ratio of 32.44, a PEG ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The firm had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, research analysts expect that Globus Medical will post 3.44 EPS for the current year.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the transaction, the director owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann D. Rhoads sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the sale, the director owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. The trade was a 28.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 70,000 shares of company stock worth $5,659,850. Company insiders own 18.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Globus Medical by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,909,082 shares of the medical device company’s stock worth $798,545,000 after purchasing an additional 45,248 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in shares of Globus Medical by 24.3% during the second quarter. Burgundy Asset Management Ltd. now owns 3,481,438 shares of the medical device company’s stock valued at $205,474,000 after acquiring an additional 679,691 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Globus Medical by 17.2% in the 3rd quarter. William Blair Investment Management LLC now owns 2,819,165 shares of the medical device company’s stock valued at $161,454,000 after purchasing an additional 414,134 shares in the last quarter. Sculptor Capital LP grew its holdings in shares of Globus Medical by 31.9% in the 2nd quarter. Sculptor Capital LP now owns 2,760,688 shares of the medical device company’s stock worth $162,936,000 after purchasing an additional 667,850 shares during the last quarter. Finally, Geneva Capital Management LLC increased its position in shares of Globus Medical by 13.6% during the 2nd quarter. Geneva Capital Management LLC now owns 2,082,788 shares of the medical device company’s stock worth $122,926,000 after purchasing an additional 249,141 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.