Globus Medical, Inc. (NYSE:GMED) Receives Average Recommendation of "Moderate Buy" from Brokerages

Globus Medical, Inc. (NYSE:GMED) has received a "Moderate Buy" rating from 15 brokerage firms. Analysts have set an average 12-month price target of $92.82. Recent analyst actions include a "strong-buy" upgrade by Wall Street Zen and a price target increase by Truist Financial to $105.00. Insider transactions include significant stock sales by Director Ann D. Rhoads and SVP Kelly Huller. Institutional investors own 95.16% of the stock. GMED stock opened at $89.00, with a market cap of $11.91 billion.

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have received an average rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $92.8182.

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Several equities research analysts recently issued reports on GMED shares. Wall Street Zen raised shares of Globus Medical from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 16th. Truist Financial reaffirmed a "buy" rating and set a $105.00 price target (up previously from $93.00) on shares of Globus Medical in a research note on Tuesday, November 18th. Stifel Nicolaus began coverage on shares of Globus Medical in a report on Tuesday, October 28th. They issued a "hold" rating and a $64.00 price target on the stock. Barclays boosted their price objective on shares of Globus Medical from $106.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Globus Medical in a research report on Wednesday, October 8th.

View Our Latest Stock Report on Globus Medical

Insider Transactions at Globus Medical

In related news, Director Ann D. Rhoads sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the transaction, the director owned 25,384 shares in the company, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 7,500 shares of Globus Medical stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,500 shares of company stock valued at $6,334,850. 18.54% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

A number of hedge funds have recently made changes to their positions in GMED. Wealth Enhancement Advisory Services LLC grew its stake in Globus Medical by 2.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company's stock worth $375,000 after purchasing an additional 170 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock worth $32,000 after acquiring an additional 173 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Globus Medical by 14.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,438 shares of the medical device company's stock valued at $82,000 after acquiring an additional 184 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 in the last quarter. Finally, Probity Advisors Inc. lifted its stake in Globus Medical by 5.5% during the third quarter. Probity Advisors Inc. now owns 3,792 shares of the medical device company's stock worth $217,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Stock Down 0.9%

GMED stock opened at $89.00 on Wednesday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. Globus Medical has a 52-week low of $51.79 and a 52-week high of $94.93. The stock's fifty day simple moving average is $69.43 and its 200-day simple moving average is $62.20.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The firm 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 business posted $0.83 earnings per share. The firm'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. As a group, analysts anticipate that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Globus Medical Company Profile

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Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.

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