Globus Medical (NYSE:GMED) Stock Gets Price Target Trim from Truist Financial

by · The Cerbat Gem

Globus Medical (NYSE:GMED – Free Report) had its price target lowered by Truist Financial from $100.00 to $90.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

GMED has been the subject of a number of other reports. Zacks Research upgraded Globus Medical from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a report on Friday, November 6th. BMO Capital Markets cut Globus Medical from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $94.00 to $78.00 in a research note on Friday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Globus Medical in a research note on Friday, October 9th. Finally, Wells Fargo & Company increased their target price on Globus Medical from $99.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.08.

Check Out Our Latest Stock Analysis on Globus Medical

Globus Medical Trading Up 0.1%

Shares of NYSE:GMED opened at $75.31 on Monday. The company has a fifty day simple moving average of $76.85 and a 200 day simple moving average of $82.91. The firm has a market cap of $10.11 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.98. Globus Medical has a 12-month low of $70.39 and a 12-month high of $101.40.

Globus Medical (NYSE:GMED – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The medical device company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $763.72 million for the quarter, compared to the consensus estimate of $792.39 million. Globus Medical had a net margin of 17.76% and a return on equity of 14.43%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities research analysts forecast that Globus Medical will post 4.98 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the director directly owned 35,384 shares in the company, valued at approximately $3,007,640. This trade represents a 12.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Tobin sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $1,118,700. The trade was a 66.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,000 shares of company stock worth $4,838,400 over the last 90 days. Insiders own 18.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC raised its stake 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 period. Summitry LLC boosted its stake in Globus Medical by 2.6% in the first quarter. Summitry LLC now owns 8,205 shares of the medical device company’s stock valued at $707,000 after acquiring an additional 211 shares during the period. Central Pacific Bank Trust Division boosted its stake in Globus Medical by 7.8% in the third quarter. Central Pacific Bank Trust Division now owns 3,057 shares of the medical device company’s stock valued at $229,000 after acquiring an additional 220 shares during the period. Arizona State Retirement System boosted its stake in Globus Medical by 0.8% in the second quarter. Arizona State Retirement System now owns 31,077 shares of the medical device company’s stock valued at $2,455,000 after acquiring an additional 252 shares during the period. Finally, Angeles Wealth Management LLC grew its holdings in shares of Globus Medical by 5.0% during the second quarter. Angeles Wealth Management LLC now owns 5,894 shares of the medical device company’s stock valued at $466,000 after purchasing an additional 280 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

About Globus Medical

(Get Free Report)

Globus Medical is a medical device company focused on musculoskeletal care. Its products include implants and instruments used in spine surgery, as well as solutions for orthopedic trauma and other orthopedic procedures. The company also develops surgical technologies, including robotic navigation and imaging systems designed to support planning and guidance during procedures. Its portfolio expanded significantly in 2023 when Globus Medical completed its combination with NuVasive, a provider of spine care products and technologies.

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