Globus Medical (NYSE:GMED) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Globus Medical (NYSE:GMED) had its target price increased by analysts at Needham & Company LLC from $114.00 to $117.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s price target indicates a potential upside of 37.56% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Truist Financial set a $115.00 price target on Globus Medical in a research report on Wednesday, February 25th. Citigroup reiterated a “market perform” rating on shares of Globus Medical in a research report on Thursday, January 8th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Globus Medical in a research report on Thursday, January 8th. Canaccord Genuity Group increased their price target on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Globus Medical in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.64.

Globus Medical Stock Down 4.7%

NYSE:GMED opened at $85.05 on Friday. The business’s 50-day moving average price is $89.86 and its 200 day moving average price is $86.65. The firm has a market cap of $11.50 billion, a P/E ratio of 21.59, a PEG ratio of 2.09 and a beta of 1.00. Globus Medical has a 52-week low of $51.79 and a 52-week high of $101.40.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The firm had revenue of $759.85 million for the quarter, compared to analyst estimates of $740.35 million. During the same period in the previous year, the company earned $0.68 earnings per share. Globus Medical’s revenue was up 27.0% compared to the same quarter last year. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Sell-side analysts expect that Globus Medical will post 4.46 EPS for the current year.

Insider Transactions at Globus Medical

In related news, EVP Kelly Huller sold 20,000 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total value of $1,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC lifted its stake in Globus Medical by 2.3% in the 1st quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock worth $570,000 after acquiring an additional 151 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Globus Medical by 98.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Globus Medical by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,316 shares of the medical device company’s stock worth $375,000 after acquiring an additional 170 shares in the last quarter. Parallel Advisors LLC lifted its stake in Globus Medical by 45.1% in the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other 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.