Globus Medical (NYSE:GMED) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Globus Medical from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $101.77.
• Globus Medical reported quarterly EPS of $1.34, beating estimates of $1.10, while revenue reached $789.61 million and increased 5.9% year over year.
• The stock opened at $85.13, with a market capitalization of approximately $11.56 billion; institutional investors own a substantial 95.16% of outstanding shares.

Globus Medical (NYSE:GMED - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on GMED. Stifel Nicolaus decreased their price target on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, July 8th. Needham & Company LLC raised their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Wells Fargo & Company dropped their target price on shares of Globus Medical from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Wall Street Zen lowered shares of Globus Medical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, Piper Sandler decreased their price target on Globus Medical from $115.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.77.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $85.13 on Monday. Globus Medical has a 1-year low of $54.15 and a 1-year high of $101.40. The company has a market capitalization of $11.56 billion, a PE ratio of 21.77, a P/E/G ratio of 1.39 and a beta of 0.95. The business has a 50-day moving average of $79.59 and a 200-day moving average of $85.06.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.10 by $0.24. The business had revenue of $789.61 million for the quarter, compared to analysts' expectations of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The company's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, equities analysts expect that Globus Medical will post 4.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were 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 of the company's stock, valued at $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 18.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Globus Medical by 1,235.2% during the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company's stock valued at $339,322,000 after purchasing an additional 3,595,339 shares during the period. Bank of Montreal Can increased its stake in Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company's stock valued at $294,519,000 after buying an additional 3,351,380 shares during the period. Alliancebernstein L.P. lifted its stake in shares of 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 period. Fuller & Thaler Asset Management Inc. bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $90,411,000. Finally, Norges Bank bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $89,922,000. Institutional investors and hedge funds 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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