Globus Medical, Inc. (NYSE:GMED) Receives $92.82 Consensus PT from Analysts

Globus Medical, Inc. (NYSE:GMED) has earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $92.8182.

GMED has been the topic of several recent analyst reports. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and boosted their target price for the company from $65.00 to $91.00 in a research note on Friday, November 7th. Stifel Nicolaus assumed coverage on shares of Globus Medical in a research report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 price target on the stock. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Barclays lifted their target price 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, Royal Bank Of Canada boosted their target price on Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, November 7th.

Globus Medical Trading Up 2.6%

NYSE GMED opened at $91.09 on Wednesday. Globus Medical has a 1-year low of $51.79 and a 1-year high of $94.93. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.64 and a beta of 1.07. The stock’s 50 day moving average is $71.46 and its two-hundred day moving average is $62.78.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.79 by $0.39. The business had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.Globus Medical’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. On average, analysts predict that Globus Medical will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares in the company, valued at approximately $44,399,650. This trade represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was 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 quarter, insiders have sold 96,042 shares of company stock valued at $8,003,630. Insiders own 18.51% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of Globus Medical during the third quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the period. Advisors Asset Management Inc. bought a new stake in Globus Medical during the 2nd quarter worth about $28,000. First Horizon Corp bought a new stake in Globus Medical during the 3rd quarter worth about $31,000. Finally, Parallel Advisors LLC lifted its position in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Company Profile

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.