Globus Medical (NYSE:GMED) Cut to Hold at Zacks Research

Globus Medical (NYSE:GMED) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently commented on the stock. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research note on Wednesday, April 15th. Royal Bank Of Canada raised their price objective on Globus Medical from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Needham & Company LLC boosted their target price on Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company cut their price target on Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Globus Medical Trading Down 2.0%

Shares of GMED stock opened at $78.90 on Monday. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The stock has a 50 day simple moving average of $81.48 and a 200-day simple moving average of $87.04. Globus Medical has a 12-month low of $51.79 and a 12-month high of $101.40.

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

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 510,175 shares of the company’s stock, valued at $41,201,733. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 18.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

A number of hedge funds have recently added to or reduced their stakes in GMED. Advisory Services Network LLC acquired a new position in Globus Medical during the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Globus Medical by 74.3% during the second 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. SBI Securities Co. Ltd. lifted its stake in Globus Medical by 98.2% during 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 in the last quarter. Parallel Advisors LLC boosted its stake in Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after purchasing an additional 173 shares during the period. Finally, Headlands Technologies LLC grew its holdings in shares of Globus Medical by 485.4% during the second quarter. Headlands Technologies LLC now owns 761 shares of the medical device company’s stock valued at $45,000 after buying an additional 631 shares in the last quarter. 95.16% of the stock is currently owned by 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.