Globus Medical (NYSE:GMED) Upgraded by UBS Group to Hold Rating

Key Points

• UBS Group upgraded Globus Medical to a “Hold” rating, while broader analyst sentiment remains a “Moderate Buy” with a consensus price target of $102.08.
• GMED shares rose 2.9% to open at $80.49, below the consensus target and within a 52-week range of $51.79 to $101.40.
• Globus Medical exceeded quarterly expectations, reporting $1.12 in earnings per share versus the $0.92 estimate and revenue of $759.85 million, up 27% year over year.

Globus Medical (NYSE:GMED - Get Free Report) was upgraded by analysts at UBS Group to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on GMED. BMO Capital Markets assumed coverage on Globus Medical in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $94.00 target price on the stock. Needham & Company LLC boosted their price target on shares of Globus Medical from $114.00 to $117.00 and gave the company a "buy" rating in a report on Friday, May 8th. Truist Financial lowered their price target on shares of Globus Medical from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price objective on shares of Globus Medical from $104.00 to $103.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, Stifel Nicolaus cut their price objective on shares of Globus Medical from $95.00 to $80.00 and set a "hold" rating on the stock in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and a consensus price target of $102.08.

Globus Medical Stock Up 2.9%

Shares of GMED stock opened at $80.49 on Tuesday. The company has a market cap of $10.93 billion, a P/E ratio of 18.72, a PEG ratio of 1.62 and a beta of 0.95. The business has a 50 day moving average of $79.79 and a two-hundred day moving average of $85.85. Globus Medical has a 52 week low of $51.79 and a 52 week high of $101.40.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.20. The business had revenue of $759.85 million for the quarter, compared to analysts' expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The business's quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Analysts expect that Globus Medical will post 4.74 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 510,175 shares of the company's stock, valued at approximately $41,201,733. This represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.38% of the company's stock.

Institutional Investors Weigh In On Globus Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its stake in Globus Medical by 2,178.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company's stock valued at $25,000 after purchasing an additional 305 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Globus Medical in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock worth $27,000 after buying an additional 197 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Globus Medical by 98.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company's stock valued at $29,000 after buying an additional 167 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Globus Medical by 45.1% in the third quarter. Parallel Advisors LLC now owns 557 shares of the medical device company's stock valued at $32,000 after buying an additional 173 shares during the period. Institutional investors own 95.16% of the company's stock.

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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