Globus Medical (NYSE:GMED) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Globus Medical (NYSE:GMED) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on GMED. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday. Piper Sandler decreased their price target on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. Stifel Nicolaus lowered their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Wall Street Zen lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.42.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $76.62 on Wednesday. The business has a 50-day simple moving average of $80.85 and a 200-day simple moving average of $86.89. Globus Medical has a one year low of $51.79 and a one year high of $101.40. The company has a market cap of $10.40 billion, a PE ratio of 17.82, a P/E/G ratio of 1.57 and a beta of 0.95.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.20. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The firm had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, sell-side analysts predict that Globus Medical will post 4.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total value of $2,019,000.00. Following the completion of the transaction, the director owned 510,175 shares in the company, valued at $41,201,733. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.38% of the stock is currently owned by company insiders.

Institutional Trading of Globus Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC boosted its position in shares of Globus Medical by 2,178.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 305 shares during the period. SBI Securities Co. Ltd. lifted its stake in Globus Medical by 98.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Globus Medical in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 197 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Globus Medical by 83.4% in the fourth quarter. Larson Financial Group LLC now owns 532 shares of the medical device company’s stock valued at $46,000 after acquiring an additional 242 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

About Globus Medical

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.