Globus Medical Stock Price, News & Analysis (NYSE:GMED)

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 brokers have issued 12 month price objectives for Globus Medical's stock. Their GMED share price targets range from $53.00 to $86.00. On average, they predict the company's share price to reach $65.11 in the next twelve months. This suggests a possible upside of 46.5% from the stock's current price.
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Globus Medical's stock was trading at $74.27 at the beginning of 2023. Since then, GMED stock has decreased by 40.2% and is now trading at $44.44.
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Globus Medical saw a decrease in short interest during the month of November. As of November 15th, there was short interest totaling 3,680,000 shares, a decrease of 7.8% from the October 31st total of 3,990,000 shares. Based on an average daily volume of 2,000,000 shares, the days-to-cover ratio is currently 1.8 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 20th 2024.
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Globus Medical, Inc. (NYSE:GMED) issued its quarterly earnings results on Tuesday, November, 7th. The medical device company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The medical device company had revenue of $383.60 million for the quarter, compared to the consensus estimate of $306.78 million. Globus Medical had a trailing twelve-month return on equity of 9.79% and a net margin of 12.88%. The company's revenue was up 51.0% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share.

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 FY23 earnings guidance on Tuesday, November, 7th. The company provided earnings per share guidance of $2.30 for the period, compared to the consensus EPS estimate of $2.30. The company issued revenue guidance of $1.55 billion, compared to the consensus revenue estimate of $1.13 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's stock is owned by many different institutional and retail investors. Top institutional shareholders include Nuance Investments LLC (3.60%), Wellington Management Group LLP (1.93%), Bank of New York Mellon Corp (2.40%), William Blair Investment Management LLC (2.31%), Hawk Ridge Capital Management LP (2.22%) and JPMorgan Chase & Co. (2.12%). 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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