Globus Medical (NYSE:GMED) Price Target Lowered to $100.00 at Truist Financial

Globus Medical (NYSE:GMED) had its target price trimmed by Truist Financial from $115.00 to $100.00 in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the medical device company’s stock.

Several other research analysts have also recently commented on the stock. BMO Capital Markets started coverage on shares of Globus Medical in a report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Stifel Nicolaus reduced their price objective on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen cut shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Globus Medical Trading Up 2.5%

Shares of NYSE GMED opened at $80.52 on Thursday. The stock has a market cap of $10.93 billion, a P/E ratio of 18.73, a PEG ratio of 1.62 and a beta of 0.95. Globus Medical has a 12-month low of $51.79 and a 12-month high of $101.40. The business’s fifty day simple moving average is $79.85 and its 200-day simple moving average is $86.54.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. During the same quarter in the prior year, the business earned $0.68 EPS. Globus Medical’s revenue was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, equities analysts forecast that Globus Medical will post 4.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David D. Davidar sold 25,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the completion of the sale, the director owned 510,175 shares in the company, valued at $41,201,733. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GMED. Annex Advisory Services LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $20,572,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Globus Medical by 71,618.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock worth $62,555,000 after purchasing an additional 715,470 shares during the period. Assenagon Asset Management S.A. grew its position in Globus Medical by 510.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 266,532 shares of the medical device company’s stock valued at $23,271,000 after buying an additional 222,841 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Globus Medical in the 4th quarter valued at $1,203,000. Finally, Artemis Investment Management LLP increased its stake in Globus Medical by 43.7% in the 4th quarter. Artemis Investment Management LLP now owns 738,595 shares of the medical device company’s stock valued at $64,487,000 after buying an additional 224,587 shares during the period. 95.16% of the stock is 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.