Globus Medical (NYSE:GMED) Price Target Cut to $115.00 by Analysts at Royal Bank Of Canada

Globus Medical (NYSE:GMED) had its price target lowered by analysts at 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 objective would indicate a potential upside of 45.03% from the stock’s current price.

Several other analysts have also issued reports on GMED. Needham & Company LLC increased their price target on shares of Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Piper Sandler cut their target price on Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Wells Fargo & Company decreased 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

Globus Medical Stock Up 1.5%

Shares of GMED traded up $1.19 during trading hours on Monday, hitting $79.30. 387,900 shares of the company were exchanged, compared to its average volume of 1,467,398. The company 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. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $101.40. The firm’s fifty day moving average is $80.65 and its 200 day moving average is $86.81.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. The company had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.Globus Medical’s revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Analysts anticipate that Globus Medical will post 4.74 EPS for the current year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the sale, the director owned 510,175 shares of the company’s stock, valued at approximately $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GMED. AQR Capital Management LLC raised its holdings in Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after buying an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after purchasing an additional 1,085 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Globus Medical by 38.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after buying an additional 8,540 shares during the period. Jones Financial Companies Lllp lifted its holdings in Globus Medical by 237.3% during the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after buying an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Globus Medical by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock valued at $25,439,000 after buying an additional 28,027 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.