Globus Medical (NYSE:GMED) Stock Rating Upgraded by Zacks Research

Globus Medical (NYSE:GMED) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently commented on GMED. Needham & Company LLC boosted their target price on shares of Globus Medical from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Stifel Nicolaus lowered their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. UBS Group initiated coverage on Globus Medical in a research note on Tuesday, July 28th. They set a “neutral” rating and a $82.00 price objective for the company. Wall Street Zen cut Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada decreased their target price on Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.77.

Globus Medical Price Performance

Shares of GMED stock opened at $85.13 on Monday. Globus Medical has a 1-year low of $54.15 and a 1-year high of $101.40. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.39 and a beta of 0.95. The stock has a 50 day simple moving average of $79.59 and a 200-day simple moving average of $85.06.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, August 6th. The medical device company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.24. The firm had revenue of $789.61 million for the quarter, compared to analysts’ expectations of $782.88 million. Globus Medical had a net margin of 17.02% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. Analysts anticipate that Globus Medical will post 4.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David D. Davidar sold 25,000 shares of the business’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 transaction, the director directly owned 510,175 shares in the company, valued at $41,201,733. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors have recently added to or reduced their stakes in GMED. Sanctuary Advisors LLC raised its position in Globus Medical by 2.3% during the first quarter. Sanctuary Advisors LLC now owns 6,611 shares of the medical device company’s stock worth $570,000 after acquiring an additional 151 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Globus Medical by 98.2% in the fourth 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 last quarter. Parallel Advisors LLC increased its stake in shares of Globus Medical by 45.1% during the 3rd quarter. Parallel Advisors LLC now owns 557 shares of the medical device company’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Globus Medical by 74.3% during 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, Allworth Financial LP raised its position in shares of Globus Medical by 1.6% during the 4th quarter. Allworth Financial LP now owns 12,545 shares of the medical device company’s stock worth $1,095,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.