Globus Medical (GMED) Stock Forecast, Price & News

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Globus Medical in the last twelve months. There are currently 1 sell rating, 7 hold ratings and 3 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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11 equities research analysts have issued 1 year price objectives for Globus Medical's stock. Their GMED share price forecasts range from $61.00 to $78.00. On average, they anticipate the company's share price to reach $70.50 in the next year. This suggests a possible upside of 33.2% 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 28.7% and is now trading at $52.93.
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Globus Medical saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 7,700,000 shares, an increase of 24.0% from the April 30th total of 6,210,000 shares. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is currently 5.3 days. Currently, 10.0% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our GMED earnings forecast.

Globus Medical, Inc. (NYSE:GMED) issued its quarterly earnings data on Thursday, May, 4th. The medical device company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The medical device company had revenue of $276.90 million for the quarter, compared to analyst estimates of $254.05 million. Globus Medical had a net margin of 18.82% and a trailing twelve-month return on equity of 12.26%. The business's quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.42 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), First Trust Indxx Medical Devices ETF (MDEV), SPDR S&P Health Care Equipment ETF (XHE), First Trust Innovation Leaders ETF (ILDR), First Trust Health Care AlphaDEX Fund (FXH) and ROBO Global Robotics & Automation ETF (ROBO).

Globus Medical issued an update on its FY 2023 earnings guidance on Thursday, May, 4th. The company provided earnings per share guidance of $2.30-$2.30 for the period, compared to the consensus estimate of $2.30. The company issued revenue guidance of $1.10 billion-$1.10 billion, compared to the consensus revenue estimate of $1.10 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 many different institutional and retail investors. Top institutional investors include BlackRock Inc. (7.49%), Wellington Management Group LLP (2.73%), State Street Corp (2.28%), William Blair Investment Management LLC (1.86%), Nuance Investments LLC (1.84%) and JPMorgan Chase & Co. (1.83%). 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, Kelly Huller and Robert Andrew Douglas.
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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 $52.93.

Globus Medical (NYSE:GMED) has a market capitalization of $5.31 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 $1.97 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.