Globus Medical (GMED) Stock Forecast, Price & News

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Globus Medical in the last year. There are currently 1 sell rating, 7 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" GMED shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GMED, but not buy additional shares or sell existing shares.
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12 brokerages have issued twelve-month price objectives for Globus Medical's stock. Their GMED share price forecasts range from $58.00 to $78.00. On average, they anticipate the company's stock price to reach $68.22 in the next twelve months. This suggests a possible upside of 38.4% from the stock's current price.
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Globus Medical's stock was trading at $74.27 at the beginning of the year. Since then, GMED shares have decreased by 33.6% and is now trading at $49.29.
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Globus Medical saw a decrease in short interest during the month of September. As of September 15th, there was short interest totaling 4,310,000 shares, a decrease of 59.2% from the August 31st total of 10,570,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is currently 2.6 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
View our GMED earnings forecast.

Globus Medical, Inc. (NYSE:GMED) issued its earnings results on Thursday, August, 3rd. The medical device company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The medical device company earned $291.62 million during the quarter, compared to analyst estimates of $279.54 million. Globus Medical had a trailing twelve-month return on equity of 12.13% and a net margin of 18.63%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS.

ETFs with the largest weight of Globus Medical (NYSE:GMED) stock in their portfolio include MFAM Small-Cap Growth ETF (MFMS), Motley Fool Small-Cap Growth ETF (TMFS), First Trust Nasdaq Lux Digital Health Solutions ETF (EKG), SPDR S&P Health Care Equipment ETF (XHE) and First Trust Health Care AlphaDEX Fund (FXH).iShares U.S. Medical Devices ETF (IHI).

Globus Medical updated its FY 2023 earnings guidance on Thursday, August, 3rd. The company provided earnings per share (EPS) guidance of $2.30-$2.30 for the period, compared to the consensus earnings per share estimate of $2.30. The company issued revenue guidance of $1.13 billion-$1.13 billion, compared to the consensus revenue estimate of $1.12 billion.

47 employees have rated Globus Medical Chief Executive Officer David Demski on Glassdoor.com. David Demski has an approval rating of 61% among the company's employees. This puts David Demski in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Globus Medical investors own include NVIDIA (NVDA), Shopify (SHOP), CrowdStrike (CRWD), Okta (OKTA), Trade Desk (TTD), Block (SQ), Tesla (TSLA), Teladoc Health (TDOC), Zoom Video Communications (ZM) and Mastercard (MA).

Globus Medical trades on the New York Stock Exchange (NYSE) under the ticker symbol "GMED."

Globus Medical's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.33%), State Street Corp (2.36%), William Blair Investment Management LLC (2.27%), JPMorgan Chase & Co. (1.89%), Champlain Investment Partners LLC (1.70%) and Hawk Ridge Capital Management LP (1.68%). Insiders that own company stock include Dan Lemaitre, Daniel T Scavilla, Daniel T Scavilla, David D Davidar, David M Demski, James R Tobin, James R Tobin, Keith W Pfeil, Keith W Pfeil and Kelly Huller.
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Shares of GMED stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GMED stock can currently be purchased for approximately $49.29.

Globus Medical (NYSE:GMED) has a market capitalization of $4.95 billion and generates $759.12 million in revenue each year. The medical device company earns $190.17 million in net income (profit) each year or $2.01 on an earnings per share basis.

The company employs 2,600 workers across the globe.

Globus Medical's mailing address is 2560 GENERAL ARMISTEAD AVENUE, AUDUBON PA, 19403. The official website for the company is www.globusmedical.com. The medical device company can be reached via phone at (610) 930-1800, via email at investors@globusmedical.com, or via fax at 610-930-2042.