Globus Medical (NYSE:GMED) Stock Price Target Lowered at Needham & Company LLC

Key Points

• Needham cut its price target on Globus Medical to $100 from $117 but maintained a Buy rating; the new target implies 23.27% upside from the prior close.
• Third-quarter EPS of $1.23 beat the $1.20 consensus, but revenue of $763.7 million missed estimates and declined 0.7% year over year. Full-year revenue guidance also came in below analyst expectations, while EPS guidance was broadly in line.
• Analyst sentiment remains broadly positive: MarketBeat reports an average “Moderate Buy” rating and a consensus price target of $96.92. Globus also increased its share-repurchase authorization by $500 million.

Globus Medical (NYSE:GMED - Get Free Report) had its price objective cut by analysts at Needham & Company LLC from $117.00 to $100.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the medical device company's stock. Needham & Company LLC's price target suggests a potential upside of 23.27% from the company's previous close.

GMED has been the topic of a number of other research reports. Truist Financial lowered their price target on Globus Medical from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company cut their price objective on Globus Medical from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. BMO Capital Markets downgraded Globus Medical from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $94.00 to $78.00 in a research note on Friday. Royal Bank Of Canada decreased their target price on Globus Medical from $115.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, October 1st. Finally, UBS Group started coverage on shares of Globus Medical in a research note on Tuesday, July 28th. They issued a "neutral" rating and a $82.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and an average target price of $96.92.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $81.13 on Friday. The firm has a 50-day simple moving average of $77.44 and a two-hundred day simple moving average of $83.29. Globus Medical has a fifty-two week low of $60.36 and a fifty-two week high of $101.40. The company has a market cap of $10.89 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, November 5th. The medical device company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. The firm had revenue of $763.72 million for the quarter, compared to analysts' expectations of $792.39 million. During the same period last year, the firm earned $1.18 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Equities research analysts forecast that Globus Medical will post 4.99 EPS for the current year.

Insider Buying and Selling at Globus Medical

In related news, Director James Tobin sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann D. Rhoads sold 5,000 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the director directly owned 35,384 shares of the company's stock, valued at approximately $3,007,640. This represents a 12.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,000 shares of company stock valued at $4,838,400 over the last quarter. 18.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its position in shares of Globus Medical by 2.3% during the 1st quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company's stock worth $570,000 after purchasing an additional 151 shares during the last quarter. Summitry LLC lifted its position in Globus Medical by 2.6% in the first quarter. Summitry LLC now owns 8,205 shares of the medical device company's stock valued at $707,000 after buying an additional 211 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in Globus Medical by 7.8% during the third quarter. Central Pacific Bank Trust Division now owns 3,057 shares of the medical device company's stock worth $229,000 after buying an additional 220 shares during the period. Arizona State Retirement System boosted its stake in Globus Medical by 0.8% during the second quarter. Arizona State Retirement System now owns 31,077 shares of the medical device company's stock worth $2,455,000 after buying an additional 252 shares during the period. Finally, Angeles Wealth Management LLC increased its position in shares of Globus Medical by 5.0% during the second quarter. Angeles Wealth Management LLC now owns 5,894 shares of the medical device company's stock valued at $466,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Key Stories Impacting Globus Medical

Here are the key news stories impacting Globus Medical this week:

• Positive Sentiment: Third-quarter EPS was $1.23, above the $1.20 consensus and up from $1.18 a year earlier. Globus also increased its share-repurchase authorization by $500 million, potentially supporting shareholder returns. Third-quarter results and repurchase announcement
• Positive Sentiment: The recently announced acquisition of Synaptive Medical adds cranial-neurosurgery technology and could broaden Globus Medical’s position in that market. Synaptive Medical acquisition
• Neutral Sentiment: Director Ann Rhoads sold 5,000 shares for $425,000, reducing her holdings by 12.38%. One director’s sale is not necessarily a signal about the company’s outlook. SEC ownership filing
• Negative Sentiment: Third-quarter revenue of $763.7 million missed the $792.4 million analyst estimate and declined 0.7% year over year. Full-year revenue guidance of $3.1 billion is also below the $3.2 billion consensus. EPS guidance of $4.95–$5.05 is broadly in line with expectations, but the sales miss and softer revenue outlook may outweigh the earnings beat. Q3 sales and earnings report

About Globus Medical

Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.

Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.

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