Globus Medical (NYSE:GMED) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Globus Medical (NYSE:GMED) to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Stifel Nicolaus cut their target price on shares of Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. BMO Capital Markets started coverage on shares of Globus Medical in a report on Wednesday, July 8th. They issued an “outperform” rating and a $94.00 target price on the stock. Royal Bank Of Canada decreased their target price on shares of Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Wells Fargo & Company lowered their price target on shares of Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and an average price target of $102.08.

Globus Medical Trading Up 2.9%

Shares of NYSE:GMED opened at $80.49 on Tuesday. The stock’s 50-day moving average price is $79.79 and its 200-day moving average price is $85.85. 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 $10.93 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.95.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, May 7th. The medical device company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.92 by $0.20. The firm had revenue of $759.85 million for the quarter, compared to the consensus estimate of $740.35 million. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. As a group, research analysts predict that Globus Medical will post 4.74 EPS for the current year.

Insider Buying and Selling

In other Globus Medical news, Director David D. Davidar sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 510,175 shares of the company’s stock, valued at $41,201,733. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 18.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Globus Medical

Several hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC lifted its stake in Globus Medical by 2,178.6% in the second quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock worth $25,000 after acquiring an additional 305 shares during the period. SBI Securities Co. Ltd. increased its position in Globus Medical by 98.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 337 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Advisory Services Network LLC purchased a new position in Globus Medical during the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in Globus Medical by 74.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in Globus Medical by 83.4% in the 4th quarter. Larson Financial Group LLC now owns 532 shares of the medical device company’s stock worth $46,000 after purchasing an additional 242 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

About Globus Medical

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.