Globus Medical, Inc., a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives. The company also offers products for the treatment of orthopedic trauma, including fracture plates, compression screws, intramedullary nails, and external fixation systems; and hip and knee joint solutions, including modular hip stems and acetabular cups, as well as posterior stabilizing and cruciate retaining knee arthroplasty implants. In addition, it distributes human cell, tissue, and cellular and tissue-based products. Globus Medical, Inc. was incorporated in 2003 and is headquartered in Audubon, Pennsylvania.
Analysts Set New Price Targets
GMED has been the topic of several recent research reports. BTIG Research reduced their price target on Globus Medical to $71.00 in a research note on Tuesday. Wells Fargo & Company reduced their price target on Globus Medical from $80.00 to $70.00 in a research note on Wednesday, May 11th. Truist Financial reduced their price target on Globus Medical from $76.00 to $71.00 and set a "buy" rating on the stock in a research note on Wednesday, July 20th. Piper Sandler reduced their price target on Globus Medical from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reduced their price target on Globus Medical from $80.00 to $75.00 in a research note on Wednesday, May 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Globus Medical has an average rating of "Moderate Buy" and an average price target of $77.36.
Globus Medical Stock Up 0.4 %
Shares of NYSE:GMED traded up $0.27 during trading on Tuesday, reaching $63.79. The company had a trading volume of 741,489 shares, compared to its average volume of 708,700. Globus Medical has a 12-month low of $52.60 and a 12-month high of $84.23. The stock has a market cap of $6.49 billion, a PE ratio of 42.65, a P/E/G ratio of 3.01 and a beta of 1.13. The business's 50-day moving average is $58.49 and its 200 day moving average is $65.38.
Globus Medical (NYSE:GMED - Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The medical device company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). Globus Medical had a net margin of 15.91% and a return on equity of 11.81%. The business had revenue of $230.55 million for the quarter, compared to analysts' expectations of $232.88 million. During the same period last year, the business earned $0.49 earnings per share. The company's quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that Globus Medical will post 2.1 earnings per share for the current year.