Globus Medical (NYSE:GMED) Stock Rating Lowered by Zacks Research

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

Several other research firms also recently commented on GMED. Canaccord Genuity Group cut their price objective on Globus Medical from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 6th. Wall Street Zen downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial dropped their price target on shares of Globus Medical from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC dropped their price target on shares of Globus Medical from $117.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Finally, Wells Fargo & Company increased their price target on shares of Globus Medical from $99.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. One 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.08.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $75.31 on Monday. The stock has a 50 day moving average price of $76.95 and a 200 day moving average price of $83.00. Globus Medical has a 52 week low of $70.39 and a 52 week high of $101.40. The stock has a market capitalization of $10.11 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.98.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, November 5th. The medical device company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm 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 14.43% and a net margin of 17.76%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. 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 4.97 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stephen T. Zarrilli sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the sale, the director directly owned 25,000 shares of the company’s stock, valued at $2,176,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann D. Rhoads sold 5,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the director owned 35,384 shares of the company’s stock, valued at $3,007,640. This represents a 12.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,000 shares of company stock valued at $4,838,400 over the last 90 days. 18.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Medical

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

Globus Medical Company Profile

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.