Globus Medical (NYSE:GMED) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research downgraded shares of Globus Medical (NYSE:GMED) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks reports.

GMED has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Globus Medical from $99.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Canaccord Genuity Group reduced their price target on shares of Globus Medical from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a report on Friday, October 9th. Finally, Needham & Company LLC lowered their price objective on shares of Globus Medical from $117.00 to $100.00 and set a “buy” rating for the company in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $96.08.

Globus Medical Stock Down 1.4%

Shares of Globus Medical stock opened at $75.31 on Monday. The business has a 50 day moving average of $76.95 and a 200 day moving average of $83.00. Globus Medical has a 52 week low of $70.39 and a 52 week high of $101.40. The company has a market cap of $10.11 billion, a PE ratio of 18.50, a P/E/G ratio of 1.18 and a beta of 0.98.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, November 5th. The medical device company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $763.72 million for the quarter, compared to analysts’ expectations of $792.39 million. Globus Medical had a net margin of 17.76% and a return on equity of 14.43%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, research analysts anticipate that Globus Medical will post 4.97 earnings per share for the current year.

Insider Activity

In related news, Director James Tobin sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total value of $2,237,400.00. Following the sale, the director owned 15,000 shares in the company, valued at $1,118,700. This represents a 66.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the sale, the director owned 35,384 shares in the company, valued at $3,007,640. The trade was a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 60,000 shares of company stock worth $4,838,400. Insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Several hedge funds have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC increased its holdings in shares of Globus Medical by 1.3% during the third quarter. GW&K Investment Management LLC now owns 1,472,542 shares of the medical device company’s stock valued at $110,294,000 after acquiring an additional 19,336 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Globus Medical in the 3rd quarter worth about $296,000. Boston Partners boosted its stake in Globus Medical by 119.7% in the 3rd quarter. Boston Partners now owns 3,415,554 shares of the medical device company’s stock worth $255,898,000 after purchasing an additional 1,860,564 shares in the last quarter. Independent Advisor Alliance boosted its stake in Globus Medical by 18.9% in the 3rd quarter. Independent Advisor Alliance now owns 3,470 shares of the medical device company’s stock worth $264,000 after purchasing an additional 551 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Globus Medical by 1.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 734,180 shares of the medical device company’s stock worth $54,990,000 after purchasing an additional 10,729 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Company Profile

Globus Medical is a medical device company focused on musculoskeletal care. Its products include implants and instruments used in spine surgery, as well as solutions for orthopedic trauma and other orthopedic procedures. The company also develops surgical technologies, including robotic navigation and imaging systems designed to support planning and guidance during procedures. Its portfolio expanded significantly in 2023 when Globus Medical completed its combination with NuVasive, a provider of spine care products and technologies.