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

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

A number of other equities analysts have also recently commented on GMED. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $93.00) on shares of Globus Medical in a report on Tuesday, November 18th. Morgan Stanley increased their price target on shares of Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $91.00 in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.82.

Globus Medical Stock Up 2.6%

Shares of NYSE:GMED opened at $91.09 on Friday. The stock has a market cap of $12.19 billion, a PE ratio of 29.38, a PEG ratio of 1.64 and a beta of 1.07. The company’s fifty day moving average is $71.46 and its 200 day moving average is $62.78. Globus Medical has a 52 week low of $51.79 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. The firm had revenue of $769.05 million for 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% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. 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 year.

Insider Buying and Selling at Globus Medical

In other news, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total value of $675,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David D. Davidar sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. The trade was a 4.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 96,042 shares of company stock worth $8,003,630. Insiders own 18.51% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

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

About Globus Medical

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.