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

Globus Medical, Inc. (NYSE:GMED) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $101.7692.

A number of research analysts recently issued reports on GMED shares. BMO Capital Markets began coverage on Globus Medical in a report on Wednesday, July 8th. They set an “outperform” rating and a $94.00 price target on the stock. UBS Group assumed coverage on Globus Medical in a report on Tuesday, July 28th. They issued a “neutral” rating and a $82.00 price objective for the company. Wells Fargo & Company cut their price objective on Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Truist Financial cut their price objective on Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research note on Monday, July 13th.

Globus Medical Stock Down 1.2%

Shares of Globus Medical stock opened at $73.61 on Friday. The firm has a market cap of $9.88 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95. Globus Medical has a 12-month low of $54.15 and a 12-month high of $101.40. The company’s fifty day simple moving average is $80.52 and its two-hundred day simple moving average is $83.89.

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 the consensus estimate of $1.10 by $0.24. The firm had revenue of $789.61 million during the quarter, compared to the consensus estimate of $782.88 million. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, sell-side analysts expect that Globus Medical will post 4.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director Stephen Zarrilli sold 25,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $2,176,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in shares of Globus Medical by 0.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 80,753 shares of the medical device company’s stock valued at $6,380,000 after purchasing an additional 402 shares in the last quarter. Tidal Investments LLC raised its stake in Globus Medical by 14.9% in the second quarter. Tidal Investments LLC now owns 14,357 shares of the medical device company’s stock worth $1,134,000 after buying an additional 1,861 shares in the last quarter. Van Hulzen Asset Management LLC raised its stake in Globus Medical by 6.5% in the second quarter. Van Hulzen Asset Management LLC now owns 32,869 shares of the medical device company’s stock worth $2,597,000 after buying an additional 2,000 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Globus Medical by 74.8% in the second quarter. Engineers Gate Manager LP now owns 12,949 shares of the medical device company’s stock worth $1,023,000 after buying an additional 5,543 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Globus Medical by 30.4% in the second quarter. NewEdge Advisors LLC now owns 39,810 shares of the medical device company’s stock worth $3,145,000 after buying an additional 9,270 shares during the period. 95.16% of the stock is currently owned by institutional investors.

About Globus Medical

Globus Medical, Inc (NYSE: GMED) is a medical device company that develops, manufactures and markets musculoskeletal solutions for surgeons, hospitals and patients. Its primary focus is spinal surgery, supported by a portfolio of implants, instruments and enabling technologies designed to assist with procedures involving the cervical, thoracic and lumbar spine.

The company’s products include spinal fusion systems, interbody devices, deformity correction systems, biologics and surgical instruments.