Globus Medical (NYSE:GMED) Stock Rating Cut to “Hold” at Zacks Research

by · The Cerbat Gem

Globus Medical (NYSE:GMED – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts have also recently issued reports on GMED. BMO Capital Markets cut Globus Medical from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $94.00 to $78.00 in a research note on Friday, November 6th. Canaccord Genuity Group decreased their price target on Globus Medical from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Royal Bank Of Canada lowered their price target on Globus Medical from $115.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Globus Medical in a research report on Friday, October 9th. Finally, Needham & Company LLC reduced their price objective on shares of Globus Medical from $117.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.08.

View Our Latest Stock Report on GMED

Globus Medical Price Performance

NYSE:GMED opened at $75.31 on Monday. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.18 and a beta of 0.98. The company’s 50-day moving average is $76.95 and its two-hundred day moving average is $83.00. Globus Medical has a 1-year low of $70.39 and a 1-year high of $101.40.

Globus Medical (NYSE:GMED – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The medical device company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $763.72 million during 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 business’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 EPS. Globus Medical has set its FY 2026 guidance at 4.950-5.050 EPS. As a group, equities analysts anticipate that Globus Medical will post 4.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, Director James Tobin sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 15,000 shares in the company, valued at $1,118,700. This represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann D. Rhoads sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the sale, the director owned 35,384 shares in the company, valued at $3,007,640. This trade represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $4,838,400. Corporate insiders own 18.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GW&K Investment Management LLC increased its position in shares of Globus Medical by 1.3% during the third quarter. GW&K Investment Management LLC now owns 1,472,542 shares of the medical device company’s stock worth $110,294,000 after acquiring an additional 19,336 shares during the period. Private Advisor Group LLC purchased a new position in Globus Medical in the third quarter valued at $296,000. Boston Partners boosted its holdings in Globus Medical by 119.7% in the third quarter. Boston Partners now owns 3,415,554 shares of the medical device company’s stock valued at $255,898,000 after purchasing an additional 1,860,564 shares during the period. Independent Advisor Alliance grew its stake in Globus Medical by 18.9% during the 3rd quarter. Independent Advisor Alliance now owns 3,470 shares of the medical device company’s stock worth $264,000 after purchasing an additional 551 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in Globus Medical by 1.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 734,180 shares of the medical device company’s stock worth $54,990,000 after purchasing an additional 10,729 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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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