Globus Medical (NYSE:GMED) Raised to “Strong-Buy” at TD Cowen

Globus Medical (NYSE:GMED) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

GMED has been the subject of several other research reports. Royal Bank Of Canada raised their target price on Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Citigroup reissued a “market perform” rating on shares of Globus Medical in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Globus Medical Stock Down 0.1%

GMED opened at $91.84 on Tuesday. Globus Medical has a twelve month low of $51.79 and a twelve month high of $101.40. The company has a fifty day moving average of $89.82 and a 200-day moving average of $71.09. The stock has a market cap of $12.29 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

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

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were 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 approximately $44,399,650. This represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 7,500 shares of Globus Medical stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,636 shares of company stock worth $7,984,583 in the last ninety days. 18.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMED. Paradice Investment Management LLC boosted its position in shares of Globus Medical by 20.9% in the third quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock valued at $37,972,000 after acquiring an additional 114,433 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Globus Medical by 189.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock valued at $27,953,000 after purchasing an additional 312,149 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Globus Medical during the 3rd quarter valued at $539,000. Boston Trust Walden Corp purchased a new position in shares of Globus Medical during the 3rd quarter valued at $67,891,000. Finally, Lightrock Netherlands B.V. increased its holdings in shares of Globus Medical by 6.2% in the third quarter. Lightrock Netherlands B.V. now owns 251,900 shares of the medical device company’s stock worth $14,426,000 after purchasing an additional 14,750 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.