Globus Medical (NYSE:GMED) Stock Rating Upgraded by BMO Capital Markets

Globus Medical (NYSE:GMED) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on GMED. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a research report on Wednesday, April 15th. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Stifel Nicolaus reduced their price target on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.42.

Globus Medical Stock Performance

Globus Medical stock opened at $76.62 on Wednesday. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm has a 50 day moving average price of $80.85 and a 200 day moving average price of $86.89. The company has a market capitalization of $10.40 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, equities research analysts forecast that Globus Medical will post 4.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the transaction, the director directly owned 510,175 shares of the company’s stock, valued at $41,201,733. The trade was a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Globus Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Globus Medical by 1,235.2% during the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after buying an additional 3,595,339 shares during the period. Bank of Montreal Can lifted its stake in Globus Medical by 15,317.1% in the fourth quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after acquiring an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after acquiring an additional 1,908,795 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Globus Medical during the 4th quarter worth approximately $90,411,000. Finally, Norges Bank purchased a new stake in shares of Globus Medical in the 4th quarter valued at approximately $89,922,000. 95.16% of the stock is owned by institutional investors and hedge funds.

About Globus Medical

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.