Truist Financial Cuts Globus Medical (NYSE:GMED) Price Target to $100.00

Globus Medical (NYSE:GMED) had its price objective lowered by Truist Financial from $115.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Truist Financial’s target price points to a potential upside of 23.99% from the stock’s current price.

GMED has been the topic of several other reports. Piper Sandler cut their price objective on shares of Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, June 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research note on Monday. Royal Bank Of Canada cut their price target on Globus Medical from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company decreased their price objective on Globus Medical from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Needham & Company LLC raised their target price on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average price target of $103.75.

Globus Medical Stock Up 2.7%

GMED stock traded up $2.09 during midday trading on Thursday, reaching $80.65. The company had a trading volume of 506,598 shares, compared to its average volume of 1,488,316. The firm has a market capitalization of $10.95 billion, a PE ratio of 18.75, a P/E/G ratio of 1.57 and a beta of 0.95. The stock has a 50 day moving average price of $79.94 and a 200 day moving average price of $86.59. 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 announced its quarterly earnings results on Thursday, May 7th. The medical device company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. Globus Medical had a return on equity of 13.46% and a net margin of 18.92%.The business had revenue of $759.85 million for the quarter, compared to analysts’ expectations of $740.35 million. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. Globus Medical has set its FY 2026 guidance at 4.700-4.800 EPS. Research analysts predict that Globus Medical will post 4.74 EPS for the current year.

Insider Buying and Selling at Globus Medical

In other news, Director David D. Davidar sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were 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 in the company, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 18.38% of the company’s stock.

Institutional Trading of Globus Medical

A number of large investors have recently added to or reduced their stakes in GMED. AQR Capital Management LLC increased its holdings in shares of Globus Medical by 45.9% in the first quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock valued at $1,622,000 after buying an additional 7,086 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Globus Medical by 33.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock worth $320,000 after acquiring an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Globus Medical by 38.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock worth $2,228,000 after acquiring an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock worth $62,000 after purchasing an additional 598 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Globus Medical by 8.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,527 shares of the medical device company’s stock worth $25,439,000 after purchasing an additional 28,027 shares during the period. 95.16% of the stock is currently owned by institutional investors.

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.