In the ever-evolving world of healthcare solutions, Globus Medical (NYSE:GMED) has become a household name by developing cutting-edge products that promote healing in patients with musculoskeletal disorders. With a commitment to innovation and disruptive technology, it’s no surprise that StockNews.com recently upgraded the company from a “hold” rating to a “buy” rating.
Upon releasing its earnings results on February 21st, Globus Medical reported $0.59 earnings per share (EPS) for the quarter, exceeding analysts’ consensus estimates of $0.55 by $0.04. The company also had a net margin of 18.59% and a return on equity of 11.93%. While revenue was slightly lower than anticipated at $274.50 million compared to the consensus estimate of $276.40 million, it was up 9.8% from the same quarter last year.
Globus Medical’s success stems from its commitment to developing products that help patients heal faster and more effectively, improving their quality of life in the process. It classifies its products into two categories: Innovative Fusion and Disruptive Technology.
The United States and International geographical segments are where Globus Medical operates as it brings its life changing medical solutions closer to patients all over the world.
With research analysts anticipating an EPS of 2.3 for the current year alone, there is clear evidence that Globus Medical is on an upward trajectory within this industry full of emerging players.
As consumers continue to pay attention and demand quality healthcare solutions that make their lives better, companies like Globus Medical will continue leading this charge with innovative products created using disruptive technology to accelerate growth at rates unprecedented in recent history.
In conclusion, if investing in healthcare is your game plan then Globus Medical should be under consideration as one company poised for high growth due to innovation driven R&D coupled with sound financial records this far making it one of the most stable options for investors looking to invest in this industry.
Mixed reviews for Globus Medical’s stocks, but hedge funds show confidence
Globus Medical, Inc., a renowned medical device company that develops and commercializes healthcare solutions, is facing mixed reviews from research analysts concerning the state of its stock. Truist Financial, Loop Capital, and Piper Sandler recently downgraded Globus Medical’s shares; BTIG Research similarly downgraded Globus Medical’s shares from a “buy” rating to a “neutral” rating. Morgan Stanley raised their price target on shares of Globus Medical from $68.00 to $78.00 but gave the company an “equal weight” rating in their report on Friday, January 6th. In total, one analyst rated the stock with a sell rating, seven offered hold ratings, and four issued buy ratings to the company’s stock.
Despite these reviews, Bloomberg states that Globus Medical currently holds an average rating of “Hold,” with an average price target of $70.91. However, the current status has been affected by recent reports – GMED stock opened at $58.25 on Wednesday after a 12-month low of $50.92 and a 12-month high of $81.78.
Globus Medical operates through two geographical segments – The United States and International – developing products that aim to promote healing in those with musculoskeletal disorders. Recently disclosed by Securities and Exchange Commission (SEC) was CFO Keith W Pfeil selling 29,167 shares of Globus Medical in a transaction on Thursday, February 2nd at an average price of $77.57 per share for a total value of $2,262,484.
Despite receiving mixed signals from analysts regarding its stocks’ performance since last month’s reports; hedge funds BlackRock Inc., Wellington Management Group LLP , William Blair Investment Management LLC , State Street Corp GW&K Investment Management LLC have shown confidence as they recently bought over five million shares collectively after Goldman Sachs upgraded its outlook for the company last week. Approximately 74.23% of the stock is presently carried by institutional investors and hedge funds.
Although Globus Medical has faced some turbulence with mixed reviews in recent times, overall sharing seems to be relatively stable, and it appears to have caught the attention of major hedge funds. The long-term future of this company remains in question, but shareholders can only hope that it continues its positive progress.