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

Globus Medical, Inc. (NYSE:GMED) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $100.1818.

A number of equities research analysts have weighed in on GMED shares. Stifel Nicolaus started coverage on Globus Medical in a research note on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $93.00) on shares of Globus Medical in a research report on Tuesday, November 18th. Wall Street Zen upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Canaccord Genuity Group raised their price objective on shares of Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 9th.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $88.05 on Monday. Globus Medical has a 1-year low of $51.79 and a 1-year high of $101.40. The company has a market capitalization of $11.78 billion, a PE ratio of 28.40, a P/E/G ratio of 1.35 and a beta of 1.06. The business has a 50-day moving average of $89.68 and a 200-day moving average of $74.04.

Insider Activity at Globus Medical

In related news, CFO Kyle Kline sold 3,594 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total transaction of $363,353.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $202,200.00. Following the transaction, the director owned 10,419 shares in the company, valued at $1,053,360.90. This trade represents a 16.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,636 shares of company stock valued at $2,909,333 over the last three months. 18.54% of the stock is owned by insiders.

Institutional Trading of Globus Medical

A number of institutional investors and hedge funds have recently modified their holdings of GMED. Kestra Advisory Services LLC boosted its holdings in shares of Globus Medical by 37.7% in the 4th quarter. Kestra Advisory Services LLC now owns 8,575 shares of the medical device company’s stock valued at $749,000 after buying an additional 2,349 shares during the period. Johnson Investment Counsel Inc. bought a new position in Globus Medical in the fourth quarter worth about $214,000. Inspire Advisors LLC acquired a new position in Globus Medical in the fourth quarter valued at approximately $547,000. UMB Bank n.a. boosted its stake in Globus Medical by 23.1% in the fourth quarter. UMB Bank n.a. now owns 1,512 shares of the medical device company’s stock valued at $132,000 after acquiring an additional 284 shares during the period. Finally, Commerce Bank grew its holdings in shares of Globus Medical by 4.1% during the fourth quarter. Commerce Bank now owns 10,465 shares of the medical device company’s stock valued at $914,000 after purchasing an additional 411 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.