Globus Medical, Inc. (NYSE:GMED) Stock Has Average Price Target of $101.77 According to Analysts

Globus Medical, Inc. (NYSE:GMED) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $99.46.

Several brokerages have recently commented on GMED. BMO Capital Markets started coverage on shares of Globus Medical in a research note on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Piper Sandler decreased their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, June 15th. UBS Group initiated coverage on shares of Globus Medical in a research report on Tuesday, July 28th. They set a “neutral” rating and a $82.00 target price on the stock. Finally, Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $76.78 on Tuesday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.22 and a beta of 0.96. Globus Medical has a 52-week low of $56.50 and a 52-week high of $101.40. The stock has a 50-day simple moving average of $79.58 and a 200-day simple moving average of $82.07.

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

Insider Activity

In other news, Director James R. Tobin sold 30,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at approximately $1,118,700. This represents a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen Zarrilli sold 25,000 shares of Globus Medical stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.38% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently bought and sold shares of GMED. Janus Henderson Group PLC increased its stake in Globus Medical by 4.5% during the first quarter. Janus Henderson Group PLC now owns 7,623,095 shares of the medical device company’s stock valued at $656,831,000 after acquiring an additional 328,217 shares during the period. Sculptor Capital LP increased its position in shares of Globus Medical by 1.9% during the 1st quarter. Sculptor Capital LP now owns 3,058,000 shares of the medical device company’s stock worth $263,477,000 after purchasing an additional 58,000 shares in the last quarter. Madison Avenue Partners LP increased its position in shares of Globus Medical by 3.0% during the 4th quarter. Madison Avenue Partners LP now owns 2,624,751 shares of the medical device company’s stock worth $229,167,000 after purchasing an additional 76,588 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Globus Medical by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,769,897 shares of the medical device company’s stock worth $152,474,000 after buying an additional 33,976 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Globus Medical by 2.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,132,278 shares of the medical device company’s stock valued at $97,557,000 after purchasing an additional 30,412 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc is a medical device company that develops musculoskeletal solutions for surgeons, hospitals and ambulatory surgery centers. Its primary focus is the design, development and commercialization of products used in spinal surgery, including implants, instruments, navigation systems and robotic-assisted technologies.

The company’s portfolio includes the ExcelsiusGPS robotic navigation platform, Excelsius3D imaging technology, spinal implants and systems for procedures such as deformity correction, degenerative spine treatment and minimally invasive surgery.