Globus Medical (NYSE:GMED) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

GMED has been the subject of a number of other research reports. Royal Bank Of Canada boosted their price objective on shares of Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $91.00 in a research report on Friday, November 7th. Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Canaccord Genuity Group raised their price target on shares of Globus Medical from $90.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Barclays boosted their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.11.

Globus Medical Trading Down 0.0%

Shares of Globus Medical stock opened at $87.29 on Friday. The stock’s fifty day moving average price is $82.71 and its 200-day moving average price is $66.68. The firm has a market cap of $11.68 billion, a P/E ratio of 28.16, a P/E/G ratio of 1.55 and a beta of 1.06. Globus Medical has a 12 month low of $51.79 and a 12 month high of $94.93.

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

Insider Activity at Globus Medical

In other news, CFO Kyle Kline sold 18,542 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $90.00, for a total transaction of $1,668,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen T. Zarrilli sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total value of $2,107,250.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,042 shares of company stock worth $7,419,030 in the last 90 days. 18.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Globus Medical during the third quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 197 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of Globus Medical in the 2nd quarter valued at $28,000. First Horizon Corp acquired a new stake in shares of Globus Medical in the third quarter worth $31,000. Finally, Parallel Advisors LLC raised its holdings 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 worth $32,000 after purchasing an additional 173 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

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.