Globus Medical (NYSE:GMED) Sets New 52-Week High – Time to Buy?

Globus Medical, Inc. (NYSE:GMED)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $101.40 and last traded at $95.4510, with a volume of 1125592 shares. The stock had previously closed at $90.54.

Analyst Ratings Changes

Several equities analysts recently issued reports on GMED shares. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Zacks Research downgraded Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Bank of America upgraded Globus Medical from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $91.00 in a report on Friday, November 7th. Barclays upped their target price on Globus Medical from $106.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.00.

Globus Medical Price Performance

The stock has a 50-day simple moving average of $84.45 and a 200-day simple moving average of $67.45. The stock has a market cap of $12.78 billion, a PE ratio of 30.81, a P/E/G ratio of 1.66 and a beta of 1.06.

Globus Medical (NYSE:GMED) last released its quarterly earnings data 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. Globus Medical had a return on equity of 11.52% and a net margin of 15.30%.The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. During the same period last year, the business posted $0.83 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Rhoads sold 2,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the director directly owned 15,384 shares in the company, valued at approximately $1,307,640. This represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 86,042 shares of company stock valued at $7,419,030 over the last quarter. Company insiders own 18.51% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Several institutional investors and hedge funds have recently modified their holdings of the stock. Davis Investment Partners LLC purchased a new stake in shares of Globus Medical during the 4th quarter valued at about $840,000. Miller Global Investments LLC acquired a new stake in Globus Medical in the fourth quarter valued at approximately $376,000. GAMMA Investing LLC grew its position in Globus Medical by 64.0% in the fourth quarter. GAMMA Investing LLC now owns 2,359 shares of the medical device company’s stock valued at $206,000 after acquiring an additional 921 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Globus Medical by 3.6% during the third quarter. Tudor Investment Corp ET AL now owns 100,000 shares of the medical device company’s stock valued at $5,727,000 after purchasing an additional 3,500 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Globus Medical during the third quarter worth $174,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Company Profile

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.