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

Key Points

• "Moderate Buy" is the consensus from 16 analysts covering Globus Medical, with an average 12‑month price target of $104.36 (ratings breakdown: 5 hold, 8 buy, 3 strong buy).
• Globus Medical recently beat expectations, reporting $1.28 EPS vs. $1.06 expected and revenue of $826.4M (beats $803.3M), with quarterly revenue up 25.7% year‑over‑year.
• EVP Kelly Huller sold 20,000 shares at $94.50 for roughly $1.89M, while insiders collectively own 18.51% of the company.

Globus Medical, Inc. (NYSE:GMED - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $104.3636.

A number of research analysts recently weighed in on the company. Citigroup reissued a "market perform" rating on shares of Globus Medical in a report on Thursday, January 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Globus Medical in a report on Wednesday, April 15th. Barclays boosted their target price on Globus Medical from $118.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Canaccord Genuity Group boosted their target price on Globus Medical from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, January 9th. Finally, Wall Street Zen raised Globus Medical from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 3rd.

Insider Buying and Selling at Globus Medical

In other news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 18.51% of the company's stock.

Hedge Funds Weigh In On Globus Medical

A number of large investors have recently made changes to their positions in GMED. Advisory Services Network LLC bought a new position in shares of Globus Medical during the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its stake in Globus Medical by 74.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. increased its stake in Globus Medical by 98.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock worth $29,000 after acquiring an additional 167 shares during the period. First Horizon Corp bought a new position in Globus Medical during the 3rd quarter worth $31,000. Finally, Parallel Advisors LLC increased its stake in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock worth $32,000 after acquiring an additional 173 shares during the period. Institutional investors own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $91.29 on Friday. The stock has a 50 day moving average price of $90.09 and a 200 day moving average price of $85.64. Globus Medical has a 52 week low of $51.79 and a 52 week high of $101.40. The stock has a market capitalization of $12.35 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.09.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.06 by $0.22. The firm had revenue of $826.42 million during the quarter, compared to analysts' expectations of $803.29 million. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The business's quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, research analysts forecast that Globus Medical will post 4.46 EPS for the current year.

Globus Medical Company Profile

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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