Globus Medical (NYSE:GMED) Upgraded to “Strong-Buy” at Zacks Research

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

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of Globus Medical from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Wells Fargo & Company reduced their price objective on Globus Medical from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Stifel Nicolaus decreased their price objective on Globus Medical from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Needham & Company LLC lifted their target price on Globus Medical from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Piper Sandler dropped their target price on Globus Medical from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, June 15th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.77.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $85.13 on Monday. The company has a market capitalization of $11.56 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. The stock has a fifty day moving average of $79.59 and a 200-day moving average of $85.06. Globus Medical has a one year low of $54.15 and a one year high of $101.40.

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

Insider Activity

In related news, Director David D. Davidar sold 25,000 shares of the 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 completion of the sale, the director directly owned 510,175 shares in the company, valued at approximately $41,201,733. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.38% of the company’s stock.

Institutional Inflows and Outflows

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

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.