Royal Bank Of Canada Has Lowered Expectations for Globus Medical (NYSE:GMED) Stock Price

Globus Medical (NYSE:GMED) had its price target reduced by Royal Bank Of Canada from $120.00 to $115.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical device company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 45.03% from the company’s previous close.

A number of other research firms have also recently weighed in on GMED. 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 note on Friday, May 8th. BMO Capital Markets assumed coverage on shares of Globus Medical in a research report on Wednesday. They set an “outperform” rating and a $94.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research cut shares of Globus Medical from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. 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 stock. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Globus Medical Stock Performance

Globus Medical stock traded up $1.19 during midday trading on Monday, reaching $79.30. 387,900 shares of the company’s stock were exchanged, compared to its average volume of 1,467,398. Globus Medical has a 52 week low of $51.79 and a 52 week high of $101.40. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.61 and a beta of 0.95. The stock’s 50-day simple moving average is $80.65 and its 200 day simple moving average is $86.81.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The firm had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue for the quarter 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. Research analysts forecast that Globus Medical will post 4.74 earnings per share for the current year.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the transaction, the director owned 510,175 shares in the company, valued at $41,201,733. This trade represents a 4.67% decrease in their position. The transaction 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 corporate insiders.

Hedge Funds Weigh In On Globus Medical

Several institutional investors and hedge funds have recently modified their holdings of GMED. Invesco Ltd. raised its stake in Globus Medical by 1,235.2% in the 4th quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after purchasing an additional 3,595,339 shares in the last quarter. Bank of Montreal Can grew its position in shares of Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after purchasing an additional 3,351,380 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after purchasing an additional 1,908,795 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Globus Medical during the fourth quarter worth approximately $90,411,000. Finally, Norges Bank acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $89,922,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.