Globus Medical, Inc. (NYSE:GMED) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Globus Medical an average rating of "Moderate Buy" from 16 firms (5 hold, 8 buy, 3 strong buy) with a mean 1‑year price target of $104.36.
• The company beat quarterly expectations, reporting EPS of $1.28 versus $1.06 expected and revenue of $826.42M (up 25.7% year‑over‑year, above the $803.29M consensus).
• Institutional investors own about 95.16% of the stock, while insiders have sold 35,594 shares (~$3.33M) in the last 90 days and currently hold 18.51% of shares.

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $104.3636.

Several brokerages recently issued reports on GMED. Citigroup reissued a "market perform" rating on shares of Globus Medical in a research note on Thursday, January 8th. TD Cowen raised Globus Medical to a "strong-buy" rating in a research note on Tuesday, January 27th. Royal Bank Of Canada increased their price objective on Globus Medical from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 17th. Wells Fargo & Company raised Globus Medical to a "strong-buy" rating in a research note on Wednesday, March 18th. Finally, Zacks Research raised Globus Medical from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd.

Globus Medical Stock Up 0.8%

Shares of NYSE:GMED opened at $88.67 on Tuesday. Globus Medical has a 52-week low of $51.79 and a 52-week high of $101.40. The stock has a market cap of $11.99 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The business's 50 day moving average is $88.70 and its 200 day moving average is $81.58.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.22. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The company had revenue of $826.42 million for the quarter, compared to analysts' expectations of $803.29 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Globus Medical's revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Globus Medical will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, Director Leslie V. Norwalk sold 2,000 shares of the firm's stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $202,200.00. Following the completion of the sale, the director owned 10,419 shares of the company's stock, valued at $1,053,360.90. This trade represents a 16.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Kline sold 3,594 shares of the firm's stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $101.10, for a total value of $363,353.40. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 35,594 shares of company stock valued at $3,332,253. 18.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globus Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GMED. Invesco Ltd. raised its stake in Globus Medical by 1,235.2% in the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock worth $339,322,000 after acquiring an additional 3,595,339 shares during the last quarter. Bank of Montreal Can raised its stake in Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock worth $294,519,000 after acquiring an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. raised its stake in Globus Medical by 1,303.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company's stock worth $117,700,000 after acquiring an additional 1,908,795 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Globus Medical in the 3rd quarter worth $67,891,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Globus Medical in the 4th quarter worth $90,411,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

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.

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