Globus Medical (NYSE:GMED) Trading Down 5.4% After Analyst Downgrade

Globus Medical, Inc. (NYSE:GMED)’s stock price fell 5.4% during trading on Tuesday after Royal Bank Of Canada lowered their price target on the stock from $120.00 to $115.00. Royal Bank Of Canada currently has an outperform rating on the stock. Globus Medical traded as low as $75.18 and last traded at $75.4590. Approximately 103,403 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,473,817 shares. The stock had previously closed at $79.75.

Several other analysts have also commented on GMED. Stifel Nicolaus decreased their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Piper Sandler cut their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Finally, Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Insider Buying and Selling at Globus Medical

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Globus Medical by 45.9% in the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after purchasing an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after purchasing an additional 1,085 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Globus Medical by 38.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after purchasing an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp increased its position in Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after purchasing an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Globus Medical by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock worth $25,439,000 after purchasing an additional 28,027 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Price Performance

The company has a market capitalization of $10.17 billion, a PE ratio of 17.49, a P/E/G ratio of 1.61 and a beta of 0.95. The business’s 50 day simple moving average is $80.45 and its 200 day simple moving average is $86.75.

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. The firm had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, analysts anticipate that Globus Medical, Inc. will post 4.74 EPS for the current year.

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.