Globus Medical (NYSE:GMED) Stock Rating Upgraded by Needham & Company LLC

Globus Medical (NYSE:GMED) was upgraded by equities researchers at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The brokerage presently has a $112.00 price objective on the medical device company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.47% from the stock’s current price.

A number of other research firms have also recently weighed in on GMED. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Canaccord Genuity Group raised their price objective on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. TD Cowen raised shares of Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised their target price on Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $100.18.

Globus Medical Stock Up 0.5%

Globus Medical stock opened at $90.71 on Friday. The firm has a fifty day moving average of $90.07 and a 200-day moving average of $71.56. Globus Medical has a 52-week low of $51.79 and a 52-week high of $101.40. The firm has a market capitalization of $12.14 billion, a P/E ratio of 29.26, a PEG ratio of 1.34 and a beta of 1.06.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. During the same period last year, the company posted $0.83 earnings per share. The firm’s 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. On average, research analysts expect that Globus Medical will post 3.44 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kyle Kline sold 3,594 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $363,353.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 91,636 shares of company stock worth $7,984,583. Corporate insiders own 18.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GMED. Advisory Services Network LLC bought a new stake in Globus Medical in the third quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 197 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Globus Medical during the second quarter worth approximately $28,000. First Horizon Corp acquired a new position in Globus Medical during the 3rd quarter worth $31,000. Finally, Parallel Advisors LLC lifted its stake in shares of Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.