Globus Medical (NYSE:GMED) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Globus Medical (NYSE:GMED) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat reports. The firm currently has $112.00 target price on the medical device company’s stock.

Several other research firms also recently commented on GMED. Weiss Ratings restated a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of Globus Medical in a research note on Tuesday, December 30th. Morgan Stanley lifted their price objective on Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating and set a $115.00 target price (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Finally, Barclays raised their target price on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.18.

Globus Medical Price Performance

Shares of GMED opened at $90.71 on Friday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.39 and a beta of 1.06. Globus Medical has a 1-year low of $51.79 and a 1-year high of $101.40. The company has a 50-day moving average of $90.07 and a 200 day moving average of $71.67.

Globus Medical (NYSE:GMED) last issued its earnings results 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. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same period in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, equities analysts anticipate that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the company’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kyle Kline sold 3,594 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total value of $363,353.40. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,636 shares of company stock valued at $7,984,583 over the last three months. Company insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in Globus Medical in the third quarter worth about $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Globus Medical by 74.3% during the second 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 in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Globus Medical in the 2nd quarter valued at approximately $28,000. First Horizon Corp acquired a new stake in Globus Medical in the 3rd quarter worth approximately $31,000. Finally, Parallel Advisors LLC grew its position in Globus Medical by 45.1% during the 3rd 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 currently owned by hedge funds and other institutional investors.

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.