Truist Financial Has Lowered Expectations for Globus Medical (NYSE:GMED) Stock Price

Globus Medical (NYSE:GMED) had its price target lowered by equities research analysts at Truist Financial from $115.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Truist Financial’s target price suggests a potential upside of 23.99% from the company’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Needham & Company LLC boosted their price objective on shares of Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Globus Medical in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price for the company. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada lowered their target price on Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Globus Medical Stock Performance

Shares of NYSE:GMED traded up $2.09 during mid-day trading on Thursday, hitting $80.65. The stock had a trading volume of 506,598 shares, compared to its average volume of 1,488,316. The company has a market cap of $10.95 billion, a PE ratio of 18.75, a P/E/G ratio of 1.57 and a beta of 0.95. Globus Medical has a 12-month low of $51.79 and a 12-month high of $101.40. The company’s 50 day moving average is $79.94 and its 200-day moving average is $86.59.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, topping 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 period in the previous year, the company posted $0.68 EPS. The company’s quarterly 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, equities research analysts predict that Globus Medical will post 4.74 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its position in Globus Medical by 2.3% in the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock valued at $570,000 after buying an additional 151 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Globus Medical by 98.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Parallel Advisors LLC increased its holdings in Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Globus Medical by 1.6% in the fourth quarter. Allworth Financial LP now owns 12,545 shares of the medical device company’s stock worth $1,095,000 after purchasing an additional 199 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Company Profile

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.