Globus Medical (GMED) – Analysts’ Recent Ratings Changes

Globus Medical (NYSE: GMED) has recently received a number of price target changes and ratings updates:

• 8/8/2024 – Globus Medical had its price target raised by analysts at Barclays PLC from $85.00 to $93.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – Globus Medical was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $78.00 price target on the stock, up previously from $60.00.
• 8/7/2024 – Globus Medical had its price target raised by analysts at Royal Bank of Canada from $76.00 to $78.00. They now have an “outperform” rating on the stock.
• 8/7/2024 – Globus Medical had its price target raised by analysts at Truist Financial Co. from $78.00 to $79.00. They now have a “hold” rating on the stock.
• 8/7/2024 – Globus Medical had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 7/16/2024 – Globus Medical had its price target raised by analysts at Truist Financial Co. from $63.00 to $78.00. They now have a “hold” rating on the stock.
• 7/15/2024 – Globus Medical had its price target raised by analysts at Morgan Stanley from $67.00 to $71.00. They now have an “equal weight” rating on the stock.
• 7/15/2024 – Globus Medical had its price target raised by analysts at BTIG Research from $72.00 to $75.00. They now have a “buy” rating on the stock.

Globus Medical Stock Down 0.2 %

Globus Medical stock opened at $71.92 on Tuesday. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21. The firm’s 50-day simple moving average is $69.98 and its 200 day simple moving average is $61.41. The firm has a market capitalization of $9.74 billion, a PE ratio of 112.38, a P/E/G ratio of 1.95 and a beta of 1.15.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The business had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 115.9% compared to the same quarter last year. On average, research analysts expect that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the transaction, the director now directly owns 16,419 shares in the company, valued at approximately $1,149,330. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GMED. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical in the second quarter valued at approximately $33,000. GAMMA Investing LLC grew its position in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Globus Medical in the second quarter valued at approximately $52,000. YHB Investment Advisors Inc. acquired a new stake in Globus Medical in the first quarter valued at approximately $50,000. Finally, Nisa Investment Advisors LLC grew its position in Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 160 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.