Brokerages Set Globus Medical, Inc. (NYSE:GMED) PT at $97.78

Globus Medical, Inc. (NYSE:GMED) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $97.7778.

A number of equities analysts have commented on GMED shares. Royal Bank Of Canada boosted their price objective on shares of Globus Medical from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Canaccord Genuity Group boosted their price target on Globus Medical from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Bank of America raised Globus Medical from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $91.00 in a report on Friday, November 7th. Stifel Nicolaus started coverage on Globus Medical in a research note on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective for the company. Finally, Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th.

Globus Medical Stock Down 2.2%

NYSE GMED opened at $92.55 on Thursday. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The business has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $70.36. The stock has a market cap of $12.39 billion, a PE ratio of 29.86, a P/E/G ratio of 1.37 and a beta of 1.06.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $769.05 million for the quarter, compared to analyst estimates of $734.58 million. Globus Medical had a net margin of 15.30% and a return on equity of 11.52%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. Sell-side analysts anticipate that Globus Medical will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 2,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $101.10, for a total value of $202,200.00. Following the sale, the director directly owned 10,419 shares of the company’s stock, valued at $1,053,360.90. This represents a 16.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 7,500 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 91,636 shares of company stock valued at $7,984,583. 18.51% of the stock is owned by insiders.

Institutional Trading of Globus Medical

Several institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in Globus Medical in the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position 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 worth $27,000 after buying an additional 197 shares during the period. Advisors Asset Management Inc. bought a new position in Globus Medical in the 2nd quarter worth approximately $28,000. First Horizon Corp bought a new position in Globus Medical in the 3rd quarter worth approximately $31,000. Finally, Parallel Advisors LLC increased its position in Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 173 shares during the period. Institutional investors own 95.16% of the company’s stock.

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.