Analysts Set Globus Medical, Inc. (NYSE:GMED) Price Target at $105.00

Shares of Globus Medical, Inc. (NYSE:GMED) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $103.75.

Several brokerages recently issued reports on GMED. Piper Sandler dropped their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Zacks Research cut Globus Medical from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Globus Medical in a report on Monday, July 13th. Wall Street Zen downgraded Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC boosted their price objective on Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, May 8th.

Globus Medical Stock Performance

Shares of GMED stock opened at $76.23 on Thursday. The stock’s fifty day moving average is $79.83 and its two-hundred day moving average is $86.37. The firm has a market capitalization of $10.35 billion, a P/E ratio of 17.73, a PEG ratio of 1.59 and a beta of 0.95. Globus Medical has a fifty-two week low of $51.79 and a fifty-two 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. The business had revenue of $759.85 million during the quarter, compared to analyst estimates of $740.35 million. Globus Medical had a net margin of 18.92% and a return on equity of 13.46%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. On average, equities analysts forecast that Globus Medical will post 4.74 earnings per share for the current year.

Insider Activity

In other news, Director David D. Davidar sold 25,000 shares of Globus Medical stock in a transaction on Friday, June 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,019,000.00. Following the transaction, the director owned 510,175 shares in the company, valued at $41,201,733. The trade was a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Globus Medical by 1,235.2% during the fourth quarter. Invesco Ltd. now owns 3,886,405 shares of the medical device company’s stock worth $339,322,000 after acquiring an additional 3,595,339 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Globus Medical by 15,317.1% in the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock valued at $294,519,000 after purchasing an additional 3,351,380 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Globus Medical by 1,303.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock worth $117,700,000 after purchasing an additional 1,908,795 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Globus Medical during the 4th quarter worth $90,411,000. Finally, Norges Bank acquired a new stake in shares of Globus Medical during the 4th quarter worth about $89,922,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.