Barclays Forecasts Strong Price Appreciation for Globus Medical (NYSE:GMED) Stock

Globus Medical (NYSE:GMED) had its price objective upped by research analysts at Barclays from $106.00 to $114.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical device company’s stock. Barclays‘s target price points to a potential upside of 33.61% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on GMED. Royal Bank Of Canada boosted their price objective on Globus Medical from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $91.00 in a research note on Friday. Wall Street Zen upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial upgraded Globus Medical from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $93.00 in a research note on Friday. Finally, Morgan Stanley dropped their price objective on shares of Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.82.

Globus Medical Stock Performance

GMED stock traded up $1.43 during mid-day trading on Monday, reaching $85.32. The company had a trading volume of 1,759,529 shares, compared to its average volume of 1,460,090. The firm has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $59.85. Globus Medical has a fifty-two week low of $51.79 and a fifty-two week high of $94.93. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, November 6th. The medical device company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $769.05 million for the quarter, compared to the consensus estimate of $734.58 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. Globus Medical has set its FY 2025 guidance at 3.750-3.85 EPS. As a group, analysts predict that Globus Medical will post 3.44 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

In related news, Director Ann D. Rhoads sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the sale, the director directly owned 25,384 shares in the company, valued at approximately $1,483,948.64. The trade was a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Medical

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Globus Medical by 74.3% in the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after buying an additional 197 shares during the period. Advisors Asset Management Inc. acquired a new position in Globus Medical in the second quarter worth about $28,000. First Horizon Corp bought a new stake in Globus Medical in the third quarter valued at about $31,000. Larson Financial Group LLC boosted its holdings in shares of Globus Medical by 1,007.7% in the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after buying an additional 393 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Globus Medical during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.