As of Friday close, Globus Medical Inc.’s (NYSE:GMED) stock was up $0.03, moving up 0.05 percent to $55.01. The average number of shares traded per day over the past five days has been 627,360 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.03 fall in that time frame. In the last twenty days, the average volume was 778,030, while in the previous 50 days, it was 771,326.
Since last month, GMED stock retreated -10.93%. Shares of the company fell to $54.47 on 08/18/23, the lowest level in the past month. A 52-week high of $80.04 was reached on 02/03/23 after having rallying from a 52-week low of $50.92. Since the beginning of this year, GMED’s stock price has dropped by -25.93% or -$19.26, and marked a new high 5 times. However, the stock has declined by -31.27% since its 52-week high.
GMED stock investors should be aware that Globus Medical Inc. (GMED) stock had its last reported insider trading activity 96 days ago on May 15. Lemaitre Dan, the Director of the company, disposed of 43,450 shares for $56.98 on May 15. It resulted in a $2,475,977 divestment by the insider. Pfeil Keith W sold 29,167 shares at an average price of $77.57 on Feb 02. The insider now owns 0 shares following the transaction. On Dec 01, SVP, GC, Corporate Secretary Huller Kelly sold 7,500 shares at $75.00 apiece. The transaction was valued at $562,501.
Valuation Metrics
Right now, Globus Medical Inc. (GMED) has a P/E ratio of about 27.31. The stock’s beta is 1.07. Besides these, the trailing price-to-sales (P/S) ratio of 4.98, the price-to-book (PB) ratio of 2.78, and the price-to-cash flow ratio of 45.14 may also be considered.
Financial Health
In the three months ended June 29, Globus Medical Inc.’s quick ratio stood at 5.60, while its current ratio was 7.80, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 74.20% percent. In the year ended June 29, EBITDA margin amounted to 29.78%, whereas operating margins totaled 21.50%. Based on annual data, GMED earned $759.12 million in gross profit and brought in $1.02 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 9.50%. Return on equity (ROE) for the past 12 months was 10.90%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GMED’s revenue rose 9.59% to $276.69 million during the quarter, while net income inched up to $291.62 million. While analysts expected Globus Medical Inc. to report $0.59 quarterly earnings, the actual figure was $0.63 per share, beating the consensus estimate by 6.80%. During the quarter, the company generated $84.59 million in EBITDA. The liabilities of Globus Medical Inc. were 227.4 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $100.46 million.
Technical Picture
This quick technical analysis looks at Globus Medical Inc.’s (GMED) price momentum. With a historical volatility rate of 16.11%, the RSI 9-day stood at 27.48% on 18 August.
With respect to its five-day moving average, the current Globus Medical Inc. price is down by -3.56% percent or -$2.03. At present, GMED shares trade -10.93% below its 20-day simple moving average and +3.07% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.91% below its SMA50 and -17.90% below its SMA200.
Stochastic coefficient K was 5.16% and Stochastic coefficient D was 9.33%, while ATR was 1.28. Given the Stochastic reading of 9.43% for the 14-day period, the RSI (14) reading has been calculated as 33.14%. As of today, the MACD Oscillator reading stands at -0.99, while the 14-day reading stands at -1.62.
Analyst Ratings
Canaccord Genuity upgraded its rating on Globus Medical Inc. (NYSE: GMED) to a Buy in a note to investors on March 30, 2023. The analysts firm previously had a Hold rating on the stock.Globus Medical Inc. (GMED) has been rated Hold by analysts. According to 0 brokerage firms, GMED is a sell, and 10 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Globus Medical Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $65.00, the current consensus forecast for the stock is $60.00 – $77.00. Based on these forecasts, analysts predict Globus Medical Inc. (GMED) will achieve an average price target of $67.18.
