Globus Medical, Inc. (NYSE:GMED) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $99.46.

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Globus Medical in a research report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Piper Sandler dropped their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, June 15th. Finally, Wells Fargo & Company reduced their target price on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a report on Friday, August 7th.

Globus Medical Stock Performance

Globus Medical stock opened at $75.62 on Tuesday. The company has a market capitalization of $10.15 billion, a P/E ratio of 19.34, a PEG ratio of 1.22 and a beta of 0.96. Globus Medical has a fifty-two week low of $56.50 and a fifty-two week high of $101.40. The stock has a 50-day simple moving average of $79.61 and a 200-day simple moving average of $82.18.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.24. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The firm had revenue of $789.61 million for the quarter, compared to the consensus estimate of $782.88 million. During the same quarter last year, the business posted $0.86 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, analysts forecast that Globus Medical will post 4.99 earnings per share for the current year.

Insider Activity

In other Globus Medical news, Director Stephen T. Zarrilli sold 25,000 shares of Globus Medical stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Tobin sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total value of $2,237,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Several hedge funds have recently modified their holdings of GMED. Elevation Wealth Partners LLC raised its position in Globus Medical by 2,178.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock worth $25,000 after buying an additional 305 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Globus Medical in the second quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of Globus Medical during the first quarter worth about $48,000. Clearstead Advisors LLC increased its stake in shares of Globus Medical by 123.6% during the fourth quarter. Clearstead Advisors LLC now owns 738 shares of the medical device company’s stock worth $64,000 after acquiring an additional 408 shares during the period. Finally, Root Financial Partners LLC increased its stake in shares of Globus Medical by 291.5% during the first quarter. Root Financial Partners LLC now owns 779 shares of the medical device company’s stock worth $67,000 after acquiring an additional 580 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Company Profile

Globus Medical, Inc is a medical device company that develops musculoskeletal solutions for surgeons, hospitals and ambulatory surgery centers. Its primary focus is the design, development and commercialization of products used in spinal surgery, including implants, instruments, navigation systems and robotic-assisted technologies.

The company’s portfolio includes the ExcelsiusGPS robotic navigation platform, Excelsius3D imaging technology, spinal implants and systems for procedures such as deformity correction, degenerative spine treatment and minimally invasive surgery.