Needham & Company LLC Has Lowered Expectations for Globus Medical (NYSE:GMED) Stock Price

Globus Medical (NYSE:GMED) had its price target lowered by Needham & Company LLC from $117.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical device company’s stock. Needham & Company LLC‘s price target indicates a potential upside of 23.27% from the company’s current price.

Several other research analysts have also commented on the stock. BMO Capital Markets lowered shares of Globus Medical from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $94.00 to $78.00 in a research note on Friday. Wells Fargo & Company cut their target price on shares of Globus Medical from $103.00 to $99.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Truist Financial reduced their target price on shares of Globus Medical from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research report on Friday. Finally, Zacks Research upgraded shares of Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.92.

Globus Medical Trading Down 6.9%

GMED opened at $81.13 on Friday. The stock’s 50-day moving average price is $77.44 and its 200 day moving average price is $83.29. Globus Medical has a 12-month low of $60.36 and a 12-month high of $101.40. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.40 and a beta of 0.98.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, November 5th. The medical device company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $763.72 million during the quarter, compared to the consensus estimate of $792.39 million. Globus Medical had a return on equity of 14.57% and a net margin of 17.02%. Globus Medical’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. On average, research analysts forecast that Globus Medical will post 4.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen Zarrilli sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director directly owned 25,000 shares in the company, valued at approximately $2,176,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Tobin sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at approximately $1,118,700. This trade represents a 66.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $4,838,400. Company insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its position in shares of Globus Medical by 2,178.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 319 shares of the medical device company’s stock worth $25,000 after purchasing an additional 305 shares during the last quarter. Continuum Advisory LLC acquired a new position in shares of Globus Medical during the second quarter worth $25,000. Root Financial Partners LLC acquired a new position in shares of Globus Medical during the third quarter worth $29,000. Heritage Family Offices LLP acquired a new position in shares of Globus Medical during the third quarter worth $31,000. Finally, Jacobi Capital Management LLC purchased a new position in Globus Medical in the third quarter valued at $40,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Globus Medical

Here are the key news stories impacting Globus Medical this week:

• Positive Sentiment: Third-quarter EPS was $1.23, above the $1.20 consensus and up from $1.18 a year earlier. Globus also increased its share-repurchase authorization by $500 million, potentially supporting shareholder returns. Third-quarter results and repurchase announcement
• Positive Sentiment: The recently announced acquisition of Synaptive Medical adds cranial-neurosurgery technology and could broaden Globus Medical’s position in that market. Synaptive Medical acquisition
• Neutral Sentiment: Director Ann Rhoads sold 5,000 shares for $425,000, reducing her holdings by 12.38%. One director’s sale is not necessarily a signal about the company’s outlook. SEC ownership filing
• Negative Sentiment: Third-quarter revenue of $763.7 million missed the $792.4 million analyst estimate and declined 0.7% year over year. Full-year revenue guidance of $3.1 billion is also below the $3.2 billion consensus. EPS guidance of $4.95–$5.05 is broadly in line with expectations, but the sales miss and softer revenue outlook may outweigh the earnings beat. Q3 sales and earnings report

Globus Medical Company Profile

Globus Medical, Inc develops and commercializes musculoskeletal solutions for surgeons, hospitals and patients. The company focuses primarily on spinal, orthopedic trauma and other orthopedic procedures, offering implants, instruments and related technologies designed to support surgical treatment and improve clinical outcomes.

Its product portfolio includes spinal implants and enabling technologies, including the ExcelsiusGPS robotic navigation platform and Excelsius3D imaging system.