Brokerages Set Globus Medical, Inc. (NYSE:GMED) Target Price at $93.11

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $93.1111.

A number of research firms have weighed in on GMED. Wells Fargo & Company boosted their price objective on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. BTIG Research reiterated a “neutral” rating on shares of Globus Medical in a report on Tuesday. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $91.00 in a research report on Friday, November 7th. Zacks Research cut shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Canaccord Genuity Group lifted their target price on shares of Globus Medical from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th.

Globus Medical Trading Down 0.6%

Shares of NYSE GMED opened at $87.39 on Friday. The stock has a market cap of $11.70 billion, a PE ratio of 28.19, a P/E/G ratio of 1.61 and a beta of 1.06. Globus Medical has a 12-month low of $51.79 and a 12-month high of $94.93. The company has a 50-day moving average of $82.21 and a 200 day moving average of $66.48.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The business had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, sell-side analysts forecast that Globus Medical will post 3.44 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann D. Rhoads sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the director directly owned 15,384 shares in the company, valued at approximately $1,307,640. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 7,500 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 86,042 shares of company stock worth $7,419,030. 18.51% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL boosted its stake in Globus Medical by 3.6% during the third quarter. Tudor Investment Corp ET AL now owns 100,000 shares of the medical device company’s stock worth $5,727,000 after buying an additional 3,500 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Globus Medical in the 3rd quarter valued at approximately $174,000. IFP Advisors Inc lifted its holdings in shares of Globus Medical by 1.8% in the 3rd quarter. IFP Advisors Inc now owns 15,189 shares of the medical device company’s stock worth $874,000 after acquiring an additional 273 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $297,000. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Globus Medical by 14.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,720 shares of the medical device company’s stock worth $156,000 after purchasing an additional 350 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Company Profile

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.