Weekly Investment Analysts’ Ratings Updates for Globus Medical (GMED)

Several brokerages have updated their recommendations and price targets on shares of Globus Medical (NYSE: GMED) in the last few weeks:

• 12/18/2024 – Globus Medical had its price target raised by analysts at Truist Financial Co. from $85.00 to $90.00. They now have a “hold” rating on the stock.
• 12/17/2024 – Globus Medical had its price target raised by analysts at Roth Mkm from $100.00 to $115.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Globus Medical had its price target raised by analysts at BTIG Research from $87.00 to $91.00. They now have a “buy” rating on the stock.
• 12/11/2024 – Globus Medical had its price target raised by analysts at Wells Fargo & Company from $88.00 to $95.00. They now have an “overweight” rating on the stock.
• 12/9/2024 – Globus Medical had its price target raised by analysts at Canaccord Genuity Group Inc. from $85.00 to $92.00. They now have a “buy” rating on the stock.
• 12/2/2024 – Globus Medical was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $100.00 price target on the stock, up previously from $83.00.
• 11/20/2024 – Globus Medical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/12/2024 – Globus Medical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/11/2024 – Globus Medical had its price target raised by analysts at Morgan Stanley from $74.00 to $83.00. They now have an “equal weight” rating on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Bank of America Co. from $55.00 to $80.00. They now have an “underperform” rating on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Wells Fargo & Company from $78.00 to $88.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Piper Sandler from $80.00 to $100.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Royal Bank of Canada from $80.00 to $92.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – Globus Medical had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 11/6/2024 – Globus Medical had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $100.00 price target on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Canaccord Genuity Group Inc. from $79.00 to $85.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Globus Medical had its price target raised by analysts at Stifel Nicolaus from $80.00 to $92.00. They now have a “buy” rating on the stock.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $84.42 on Friday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $87.22. The business has a 50 day moving average price of $80.83 and a 200 day moving average price of $73.83. The company has a market capitalization of $11.50 billion, a P/E ratio of 126.00, a P/E/G ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, research analysts expect that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock valued at $7,674,950 in the last ninety days. Insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after purchasing an additional 81,371 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Globus Medical by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock valued at $172,245,000 after buying an additional 35,054 shares during the period. Geode Capital Management LLC lifted its position in Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after buying an additional 21,935 shares in the last quarter. Magnetar Financial LLC grew its stake in Globus Medical by 1.7% during the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock worth $117,699,000 after buying an additional 29,200 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after acquiring an additional 18,117 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.