Globus Medical (NYSE:GMED) Stock Rating Upgraded by Wall Street Zen

Globus Medical (NYSE:GMED) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

A number of other analysts have also recently commented on the stock. Barclays lifted their target price on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Royal Bank Of Canada lifted their price objective on shares of Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and raised their target price for the stock from $65.00 to $91.00 in a research note on Friday, November 7th. Finally, Stifel Nicolaus began coverage on Globus Medical in a research report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.82.

Globus Medical Trading Up 0.4%

Shares of GMED stock opened at $84.34 on Friday. Globus Medical has a 12-month low of $51.79 and a 12-month high of $94.93. The business’s fifty day simple moving average is $62.30 and its 200-day simple moving average is $60.37. The company has a market cap of $11.39 billion, a PE ratio of 32.44, a PEG ratio of 1.68 and a beta of 1.15.

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

Insiders Place Their Bets

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on 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 transaction, the director owned 516,275 shares in the company, valued at $44,399,650. The trade was a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 2,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the transaction, the director directly owned 15,384 shares in the company, valued at approximately $1,307,640. The trade was a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 70,000 shares of company stock valued at $5,659,850 in the last three months. 18.51% of the stock is currently owned by insiders.

Institutional Trading of Globus Medical

Institutional investors have recently made changes to their positions in the company. Inspire Investing LLC acquired a new position in shares of Globus Medical in the 1st quarter worth approximately $767,000. Foresight Group Ltd Liability Partnership purchased a new stake in Globus Medical in the first quarter valued at approximately $11,995,000. Amundi raised its position in Globus Medical by 642,750.0% in the first quarter. Amundi now owns 25,714 shares of the medical device company’s stock valued at $1,852,000 after purchasing an additional 25,710 shares during the period. Pinnacle Wealth Management LLC acquired a new position in Globus Medical during the first quarter worth $664,000. Finally, Voya Investment Management LLC boosted its position in shares of Globus Medical by 169.5% during the first quarter. Voya Investment Management LLC now owns 36,645 shares of the medical device company’s stock worth $2,682,000 after buying an additional 23,047 shares during the period. Hedge funds and other 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.