Globus Medical, Inc. (NYSE:GMED) Receives $101.77 Consensus Target Price from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $101.7692.

GMED has been the topic of several research reports. UBS Group initiated coverage on shares of Globus Medical in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th. Truist Financial dropped their price objective on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research report on Monday.

Insider Buying and Selling at Globus Medical

In related news, Director David D. Davidar sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $80.76, for a total value of $2,019,000.00. Following the completion of the sale, the director directly owned 510,175 shares in the company, valued at approximately $41,201,733. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.38% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC acquired a new stake in Globus Medical in the fourth quarter valued at approximately $20,572,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Globus Medical by 71,618.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 716,469 shares of the medical device company’s stock worth $62,555,000 after buying an additional 715,470 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Globus Medical during the fourth quarter worth $1,203,000. WCM Investment Management LLC acquired a new position in shares of Globus Medical during the first quarter worth $16,965,000. Finally, SG Americas Securities LLC increased its holdings in shares of Globus Medical by 241.1% during the first quarter. SG Americas Securities LLC now owns 340,452 shares of the medical device company’s stock worth $29,333,000 after buying an additional 240,642 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Trading Up 0.4%

NYSE:GMED opened at $85.48 on Monday. The stock has a market cap of $11.60 billion, a P/E ratio of 21.86, a PEG ratio of 1.37 and a beta of 0.95. The stock has a 50 day simple moving average of $79.75 and a 200 day simple moving average of $84.99. Globus Medical has a 1-year low of $54.15 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, August 6th. The medical device company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.24. The firm had revenue of $789.61 million for the quarter, compared to analyst estimates of $782.88 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%.The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, sell-side analysts forecast that Globus Medical will post 4.99 EPS for the current year.

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.