Globus Medical, Inc. (NYSE:GMED) Receives $104.36 Consensus PT from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $104.3636.

GMED has been the subject of a number of analyst reports. Barclays lifted their price target on Globus Medical from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Needham & Company LLC increased their price objective on Globus Medical from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised their target price on Globus Medical from $98.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. TD Cowen upgraded Globus Medical to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group increased their price target on Globus Medical from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 9th.

Insider Transactions at Globus Medical

In related news, CFO Kyle Kline sold 3,594 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $101.10, for a total transaction of $363,353.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelly Huller sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $94.50, for a total transaction of $1,890,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,594 shares of company stock worth $3,332,253 in the last quarter. 18.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globus Medical

Several hedge funds have recently modified their holdings of GMED. AQR Capital Management LLC boosted its stake in shares of Globus Medical by 45.9% in the 1st quarter. AQR Capital Management LLC now owns 22,510 shares of the medical device company’s stock worth $1,622,000 after buying an additional 7,086 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Globus Medical by 33.0% in the first quarter. Integrated Wealth Concepts LLC now owns 4,375 shares of the medical device company’s stock valued at $320,000 after acquiring an additional 1,085 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Globus Medical by 38.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,649 shares of the medical device company’s stock valued at $2,228,000 after acquiring an additional 8,540 shares during the last quarter. Jones Financial Companies Lllp increased 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 valued at $62,000 after acquiring an additional 598 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 acquiring an additional 28,027 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 2.7%

GMED opened at $88.09 on Friday. Globus Medical has a 1-year low of $51.79 and a 1-year high of $101.40. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 2.01 and a beta of 1.05. The company’s fifty day moving average price is $90.51 and its two-hundred day moving average price is $78.85.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, February 24th. The medical device company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.22. The firm had revenue of $826.42 million during the quarter, compared to analysts’ expectations of $803.29 million. Globus Medical had a net margin of 18.30% and a return on equity of 12.57%. The business’s revenue was up 25.7% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. As a group, equities analysts forecast that Globus Medical will post 3.44 earnings per share for the current fiscal year.

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.