Globus Medical, Inc. (NYSE:GMED) Receives $104.36 Average Target Price from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $104.3636.

Several research firms recently commented on GMED. TD Cowen raised Globus Medical to a “strong-buy” rating in a research note on Tuesday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price target (up from $90.00) on shares of Globus Medical in a report on Thursday, January 8th. Wall Street Zen raised Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Truist Financial set a $115.00 price target on Globus Medical in a report on Wednesday, February 25th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th.

Insider Transactions at Globus Medical

In other Globus Medical news, EVP Kelly Huller sold 20,000 shares of Globus Medical stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.51% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

A number of institutional investors have recently bought and sold shares of GMED. Hsbc Holdings PLC purchased a new stake in shares of Globus Medical in the 4th quarter valued at about $2,254,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Globus Medical by 52.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,738 shares of the medical device company’s stock valued at $1,025,000 after purchasing an additional 4,042 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Globus Medical by 7.1% in the 4th quarter. Corient Private Wealth LLC now owns 51,372 shares of the medical device company’s stock valued at $4,487,000 after purchasing an additional 3,390 shares during the last quarter. MidFirst Bank purchased a new stake in shares of Globus Medical in the 4th quarter valued at about $354,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Globus Medical by 20.4% in the 4th quarter. Pacer Advisors Inc. now owns 33,177 shares of the medical device company’s stock valued at $2,897,000 after purchasing an additional 5,617 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Price Performance

GMED opened at $92.90 on Tuesday. Globus Medical has a 12 month low of $51.79 and a 12 month high of $101.40. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.11 and a beta of 1.09. The business has a fifty day moving average price of $88.75 and a 200 day moving average price of $82.82.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, February 24th. The medical device company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.06 by $0.22. Globus Medical had a return on equity of 12.57% and a net margin of 18.30%.The firm had revenue of $826.42 million during the quarter, compared to analysts’ expectations of $803.29 million. During the same period in the previous year, the firm posted $0.84 EPS. Globus Medical’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, research analysts anticipate that Globus Medical will post 3.44 earnings per share for the current year.

Globus Medical Company Profile

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.