Globus Medical (NYSE:GMED) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Globus Medical (NYSE:GMED) to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley boosted their target price on shares of Globus Medical from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Stifel Nicolaus began coverage on Globus Medical in a report on Tuesday, October 28th. They issued a “hold” rating and a $64.00 target price on the stock. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Tuesday, December 30th. Barclays upped their price target on shares of Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company raised their price objective on shares of Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Globus Medical Trading Down 0.5%

Globus Medical stock traded down $0.50 during trading hours on Tuesday, hitting $91.46. 327,222 shares of the stock traded hands, compared to its average volume of 1,587,881. Globus Medical has a one year low of $51.79 and a one year high of $101.40. The firm’s 50-day moving average price is $89.66 and its two-hundred day moving average price is $70.94. The company has a market cap of $12.24 billion, a PE ratio of 29.49, a PEG ratio of 1.38 and a beta of 1.06.

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

Insider Activity at Globus Medical

In other news, SVP Kelly Huller sold 7,500 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $86.00, for a total value of $2,150,000.00. Following the completion of the transaction, the director directly owned 516,275 shares of the company’s stock, valued at approximately $44,399,650. This trade represents a 4.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 91,636 shares of company stock worth $7,984,583 in the last 90 days. Company insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMED. Paradice Investment Management LLC grew its holdings in shares of Globus Medical by 20.9% during the third quarter. Paradice Investment Management LLC now owns 663,038 shares of the medical device company’s stock valued at $37,972,000 after buying an additional 114,433 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Globus Medical by 189.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 476,531 shares of the medical device company’s stock worth $27,953,000 after acquiring an additional 312,149 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Globus Medical during the 3rd quarter valued at about $539,000. Boston Trust Walden Corp acquired a new position in shares of Globus Medical in the third quarter valued at about $67,891,000. Finally, Lightrock Netherlands B.V. raised its stake in shares of Globus Medical by 6.2% in the third quarter. Lightrock Netherlands B.V. now owns 251,900 shares of the medical device company’s stock worth $14,426,000 after purchasing an additional 14,750 shares during 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.