Globus Medical (NYSE:GMED) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Globus Medical (NYSE:GMED) from a buy rating to a strong-buy rating in a report issued on Sunday.

Other equities analysts also recently issued research reports about the company. Truist Financial upgraded Globus Medical from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $93.00 in a research report on Friday, November 7th. Barclays increased their price objective on Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Zacks Research raised shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada upped their target price on shares of Globus Medical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.91.

Globus Medical Stock Down 0.3%

Shares of NYSE GMED opened at $83.39 on Friday. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The company’s 50-day simple moving average is $63.27 and its 200-day simple moving average is $60.46. Globus Medical has a 52-week low of $51.79 and a 52-week high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, November 6th. The medical device company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $769.05 million during the quarter, compared to the consensus estimate of $734.58 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Equities research analysts anticipate that Globus Medical will post 3.44 EPS for the current fiscal year.

Insider Transactions at Globus Medical

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.29, for a total transaction of $2,107,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $86.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the director directly owned 516,275 shares of the company’s stock, valued at $44,399,650. This represents a 4.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 70,000 shares of company stock worth $5,659,850 in the last quarter. Company insiders own 18.51% of the company’s stock.

Institutional Trading of Globus Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in Globus Medical in the third quarter valued at approximately $26,000. NewEdge Advisors LLC raised its position in Globus Medical by 3.8% in the third quarter. NewEdge Advisors LLC now owns 7,479 shares of the medical device company’s stock valued at $428,000 after purchasing an additional 275 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Globus Medical in the 3rd quarter valued at $210,000. XTX Topco Ltd acquired a new position in shares of Globus Medical in the 3rd quarter valued at $663,000. Finally, Verition Fund Management LLC grew its holdings in shares of Globus Medical by 78.0% during the 3rd quarter. Verition Fund Management LLC now owns 138,079 shares of the medical device company’s stock worth $7,908,000 after purchasing an additional 60,502 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.