Globus Medical (NYSE:GMED) Upgraded at TD Cowen

TD Cowen upgraded shares of Globus Medical (NYSE:GMED) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other brokerages also recently commented on GMED. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Bank of America raised shares of Globus Medical from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $91.00 in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Globus Medical from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Globus Medical Trading Down 1.8%

NYSE GMED opened at $90.20 on Tuesday. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.36 and a beta of 1.06. The company has a 50 day moving average of $89.98 and a 200-day moving average of $71.22. Globus Medical has a 1-year low of $51.79 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The firm had revenue of $769.05 million for the quarter, compared to analyst estimates 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 was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities research analysts forecast that Globus Medical will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were 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. This trade represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $84.29, for a total transaction of $2,107,250.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 91,636 shares of company stock worth $7,984,583. 18.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Medical

A number of hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in Globus Medical in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position 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 worth $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Globus Medical in the 2nd quarter worth approximately $28,000. First Horizon Corp bought a new stake in shares of Globus Medical in the 3rd quarter valued at $31,000. Finally, Parallel Advisors LLC increased its position 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 buying an additional 173 shares during the period. 95.16% of the stock is currently owned by institutional investors.

About Globus Medical

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.