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Why Globus Medical Inc. (GMED) Stock Could See Much Higher Prices Ahead

Globus Medical Inc. (NYSE: GMED) is -21.97% lower on its value in year-to-date trading and has touched a low of $52.60 and a high of $84.23 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GMED stock was last observed hovering at around $55.32 in the last trading session, with the day’s gains setting it 1.02% off its average median price target of $74.00 for the next 12 months. It is also 37.4% off the consensus price target high of $90.00 offered by 14 analysts, but current levels are 9.13% higher than the price target low of $62.00 for the same period.

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Currently trading at $56.34, the stock is -0.47% and -7.41% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.45 million and changing 1.84% at the moment leaves the stock -18.22% off its SMA200. GMED registered -28.73% loss for a year compared to 6-month loss of -21.68%.

The stock witnessed a 1.13% gain in the last 1 month and extending the period to 3 months gives it a -26.79%, and is -2.19% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.74% over the week and 2.98% over the month.

Globus Medical Inc. (GMED) has around 2400 employees, a market worth around $5.63B and $961.30M in sales. Current P/E ratio is 41.27 and Fwd P/E is 23.48. Profit margin for the company is 14.80%. Distance from 52-week low is 7.11% and -33.11% from its 52-week high. The company has generated returns on investments over the last 12 months (8.10%).

Globus Medical Inc. (GMED) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Globus Medical Inc. (GMED) is a “Overweight”. 14 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Globus Medical Inc. is expected to release its quarterly report on 11/09/2022.The EPS is expected to grow by 42.10% this year.

Globus Medical Inc. (GMED) Top Institutional Holders

The shares outstanding are 101.60M, and float is at 78.49M with Short Float at 6.02%.

Globus Medical Inc. (GMED) Insider Activity

A total of 10 insider transactions have happened at Globus Medical Inc. (GMED) in the last six months, with sales accounting for 5 and purchases happening 5 times. The most recent transaction is an insider sale by Davidar David D,the company’sDirector. SEC filings show that Davidar David D sold 31,500 shares of the company’s common stock on Apr 19 at a price of $78.03 per share for a total of $2.46 million. Following the sale, the insider now owns 0.6 million shares.

Globus Medical Inc. disclosed in a document filed with the SEC on Apr 08 that Huller Kelly (SVP, GC, Corporate Secretary) sold a total of 2,500 shares of the company’s common stock. The trade occurred on Apr 08 and was made at $75.58 per share for $0.19 million. Following the transaction, the insider now directly holds 0.0 shares of the GMED stock.

Still, SEC filings show that on Mar 15, TOBIN JAMES R (Director) disposed off 8,850 shares at an average price of $65.47 for $0.58 million. The insider now directly holds 0 shares of Globus Medical Inc. (GMED).

Globus Medical Inc. (GMED): Who are the competitors?

The company’s main competitors (and peers) include NuVasive Inc. (NUVA) that is trading -22.61% down over the past 12 months and Zimmer Biomet Holdings Inc. (ZBH) that is -30.31% lower over the same period. Stryker Corporation (SYK) is -24.23% down on the 1-year trading charts.

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