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

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $93.1111.

Several research firms have commented on GMED. Zacks Research lowered Globus Medical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada lifted their target price on shares of Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $91.00 in a report on Friday, November 7th.

Globus Medical Stock Performance

NYSE:GMED opened at $88.47 on Friday. The firm’s fifty day moving average is $80.19 and its two-hundred day moving average is $65.75. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.63 and a beta of 1.07. Globus Medical has a one year low of $51.79 and a one year high of $94.93.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. The business had revenue of $769.05 million during the quarter, compared to analysts’ expectations of $734.58 million. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities research analysts predict that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value 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. This represents a 4.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann D. Rhoads sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $81.00, for a total value of $648,000.00. Following the completion of the sale, the director directly owned 17,384 shares in the company, valued at approximately $1,408,104. The trade was a 31.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,042 shares of company stock worth $7,419,030 over the last quarter. Company insiders own 18.51% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in shares of Globus Medical in the third quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in Globus Medical in the 2nd quarter valued at about $28,000. First Horizon Corp acquired a new stake in Globus Medical in the 3rd quarter worth about $31,000. Finally, Parallel Advisors LLC increased its stake in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.