Globus Medical Inc (NYSE:GMED) saw a downside of -0.63% to close Friday at $50.77 after subtracting -$0.32 on the day. The 5-day average trading volume is 1,523,420 shares of the company’s common stock. It has gained $53.34 in the past week and touched a new high 3 times within the past 5 days. An average of 3,539,860 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,937,802.
GMED’s 1-month performance is -6.10% or -$3.33 on its low of $48.86 reached on 09/14/23. The company’s shares have touched a 52-week low of $48.86 and high of $80.04, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, GMED has lost -31.64% or -$23.50 and has reached a new high 5 times. However, the current price is down -36.57% from the 52-week high price.
Insider Transactions
GMED stock investors last saw insider trading activity on May 15.Lemaitre Dan (Director) most recently sold 43,450 shares at $56.98 per share on May 15. This transaction cost the insider $2,475,977. SVP, Chief Financial Officer, Pfeil Keith W, sold 29,167 shares at a price of $77.57 on Feb 02. Then, on Dec 01, SVP, GC, Corporate Secretary Huller Kelly sold 7,500 shares at a price of $75.00 per share. This transaction amounted to $562,501.
Valuation Metrics
GMED stock has a beta of 1.08. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.47 while the price-to-book (PB) in the most recent quarter is 2.57, with the price to cash flow ratio at 58.63.
Globus Medical Inc’s quick ratio for the period ended June 29 was 5.63, with the current ratio over the same period at 7.80. In terms of profitability, the gross margin trailing 12 months is 72.53%. The trailing 12-month EBITDA margin is 29.78% while for the period ending June 29, Globus Medical Inc’s operating margin was 22.85%. The firm’s gross profit as reported stood at $759.12 million against revenue of $1.02 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 5.41% to $57.71 million, while revenue of $49.13 million was 14.87% off the previous quarter. Analysts expected GMED to announce $0.59 per share in earnings in its latest quarter, but it posted $0.63, representing a 6.80% surprise. EBITDA for the quarter stood at more than $84.59 million. Shareholders hold equity totaling $100.46 million.
Let’s look briefly at Globus Medical Inc (GMED) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 41.34% to suggest the stock is trending Neutral, with historical volatility in this time period at 34.01%.
The stock’s 5-day moving average is $51.91, reflecting a +1.52% or $0.76 change from its current price. GMED is currently trading -5.14% above its 20-day SMA, -12.59% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -18.02% and SMA200 by-29.76%.
Stochastic %K and %D was 45.97% and 50.19% and the average true range (ATR) pointed at 1.34. The RSI (14) points at 40.36%, while the 14-day stochastic is at 34.54% with the period’s ATR at 1.38. The stock’s 9-day MACD Oscillator is pointing at 0.68 and 0.26 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Globus Medical Inc (NYSE: GMED), Stifel upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for GMED stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate GMED as a “sell,”, while 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.
What is GMED’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $58.00 and a high of $77.00, with their median price target at $65.00. Looking at these predictions, the average price target given by analysts is for Globus Medical Inc (GMED) stock is $66.36.
