Globus Medical (NYSE:GMED) Upgraded to Strong-Buy at BMO Capital Markets

Globus Medical (NYSE:GMED) was upgraded by research analysts at BMO Capital Markets to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Stifel Nicolaus lowered their target price on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company reduced their price target on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and an average target price of $105.42.

Globus Medical Price Performance

Shares of NYSE GMED opened at $76.62 on Wednesday. The business has a 50-day moving average of $80.85 and a two-hundred day moving average of $86.89. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95. Globus Medical has a 1 year low of $51.79 and a 1 year high of $101.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The business 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 posted $0.68 EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, equities research analysts expect that Globus Medical will post 4.74 earnings per share for the current year.

Insider Activity at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the transaction, the director directly owned 510,175 shares of the company’s stock, valued at $41,201,733. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GMED. Elevation Wealth Partners LLC increased its stake in Globus Medical by 2,178.6% in the second quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 305 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Globus Medical during the third quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $27,000 after buying an additional 197 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Globus Medical by 98.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Globus Medical by 45.1% during the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after buying an additional 173 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

About Globus Medical

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.