Globus Medical - GMED Stock Forecast, Price & News

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Globus Medical in the last twelve months. There are currently 1 hold rating and 9 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GMED shares.
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10 brokerages have issued 12 month price targets for Globus Medical's stock. Their GMED share price forecasts range from $68.00 to $91.00. On average, they anticipate the company's stock price to reach $75.08 in the next year. This suggests a possible upside of 3.9% from the stock's current price.
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Globus Medical's stock was trading at $72.20 at the start of the year. Since then, GMED stock has increased by 0.1% and is now trading at $72.28.
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Globus Medical saw a increase in short interest during the month of October. As of October 31st, there was short interest totaling 5,380,000 shares, an increase of 9.3% from the October 15th total of 4,920,000 shares. Based on an average daily volume of 574,900 shares, the days-to-cover ratio is presently 9.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 16th 2023.
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Globus Medical, Inc. (NYSE:GMED) announced its quarterly earnings results on Thursday, November, 4th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.05. The medical device company earned $229.72 million during the quarter, compared to analysts' expectations of $228.28 million. Globus Medical had a net margin of 15.55% and a trailing twelve-month return on equity of 11.59%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share.

Globus Medical updated its FY22 earnings guidance on Tuesday, November, 8th. The company provided earnings per share (EPS) guidance of $2.03-$2.10 for the period, compared to the consensus EPS estimate of $2.10. The company issued revenue guidance of $1.025 billion, compared to the consensus revenue estimate of $1.03 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 retail and institutional investors. Top institutional shareholders include BlackRock Inc. (7.29%), Vanguard Group Inc. (7.23%), Kayne Anderson Rudnick Investment Management LLC (4.58%), State Street Corp (2.20%), AXA S.A. (1.51%) and Geneva Capital Management LLC (1.41%). Insiders that own company stock include 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 $72.28.

Globus Medical (NYSE:GMED) has a market capitalization of $7.22 billion and generates $958.10 million in revenue each year. The medical device company earns $149.19 million in net income (profit) each year or $1.51 on an earnings per share basis.

The company employs 2,400 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.