Globus Medical, Inc. (NYSE:GMED) Given Consensus Rating of “Moderate Buy” by Brokerages

Globus Medical, Inc. (NYSE:GMED) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $93.1111.

Several analysts recently issued reports on GMED shares. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and upped their price objective for the company from $65.00 to $91.00 in a research note on Friday, November 7th. Wells Fargo & Company boosted their target price on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Canaccord Genuity Group lifted their price objective on Globus Medical from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley upped their target price on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Kyle Kline sold 18,542 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $90.00, for a total value of $1,668,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kelly Huller sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was 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 86,042 shares of company stock valued at $7,419,030 in the last three months. 18.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Globus Medical Stock Performance

Shares of GMED stock opened at $88.47 on Friday. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $94.93. The stock’s fifty day moving average is $80.19 and its two-hundred day moving average is $65.75. The firm has a market capitalization of $11.84 billion, a P/E ratio of 28.54, a PEG ratio of 1.63 and a beta of 1.07.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The business had revenue of $769.05 million during the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. 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.

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.