Recent Analysts’ Ratings Changes 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:

• 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.
• 10/14/2024 – Globus Medical had its price target raised by analysts at BTIG Research from $77.00 to $78.00. They now have a “buy” rating on the stock.
• 10/8/2024 – Globus Medical had its price target raised by analysts at Royal Bank of Canada from $78.00 to $80.00. They now have an “outperform” rating on the stock.

Globus Medical Stock Performance

Shares of GMED stock remained flat at $81.10 on Friday. The stock had a trading volume of 981,501 shares, compared to its average volume of 1,006,944. The firm has a market cap of $10.98 billion, a PE ratio of 121.04, a P/E/G ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a 52-week low of $44.02 and a 52-week high of $84.87. The stock’s 50-day simple moving average is $73.14 and its 200 day simple moving average is $69.33.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period last year, the firm earned $0.57 EPS. Globus Medical’s revenue for the quarter was up 63.1% compared to the same quarter last year. As a group, sell-side analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,000 shares of company stock valued at $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

Several institutional investors have recently made changes to their positions in GMED. V Square Quantitative Management LLC acquired a new position in shares of Globus Medical in the third quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in Globus Medical in the second quarter valued at $33,000. Quarry LP lifted its position in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.