Globus Medical Inc. [NYSE: GMED] surged by $2.85 during the normal trading session on Thursday and reaching a high of $55.00 during the day while it closed the day at $52.47. The company report on October 29, 2020 that Globus Medical Reports Third Quarter 2020 Results.
Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the quarter ended September 30, 2020.
Worldwide net sales were $216.1 million, an increase of 10.1% as compared to the third quarter of 2019.
Globus Medical Inc. stock has also loss -2.09% of its value over the past 7 days. However, GMED stock has inclined by 8.90% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.96% and lost -10.89% year-on date.
The market cap for GMED stock reached $5.12 billion, with 97.51 million shares outstanding and 51.87 million shares in the current float. Compared to the average trading volume of 614.28K shares, GMED reached a trading volume of 1693516 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Globus Medical Inc. [GMED]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GMED shares is $60.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GMED stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Globus Medical Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 20, 2020. The new note on the price target was released on August 06, 2020, representing the official price target for Globus Medical Inc. stock. Previously, the target price had yet another raise from $60 to $65, while Needham kept a Buy rating on GMED stock.
The Average True Range (ATR) for Globus Medical Inc. is set at 1.77, with the Price to Sales ratio for GMED stock in the period of the last 12 months amounting to 6.85. The Price to Book ratio for the last quarter was 3.83, with the Price to Cash per share for the same quarter was set at 3.24. Price to Free Cash Flow for GMED in the course of the last twelve months was 44.39 with Quick ratio for the last quarter at 4.50.
GMED stock trade performance evaluation
Globus Medical Inc. [GMED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.09. With this latest performance, GMED shares gained by 5.96% in over the last four-week period, additionally plugging by 14.96% over the last 6 months – not to mention a rise of 0.98% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GMED stock in for the last two-week period is set at 47.44, with the RSI for the last a single of trading hit 48.39, and the three-weeks RSI is set at 49.41 for Globus Medical Inc. [GMED]. The present Moving Average for the last 50 days of trading for this stock 53.24, while it was recorded at 52.16 for the last single week of trading, and 49.77 for the last 200 days.
Globus Medical Inc. [GMED]: An insightful look at the core fundamentals
Globus Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 6.60.
Earnings per share (EPS) analysis for Globus Medical Inc. [GMED] stock
With the latest financial reports released by the company, Globus Medical Inc. posted 0.49/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GMED. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Globus Medical Inc. go to 11.98%.
Globus Medical Inc. [GMED]: Insider Ownership positions
The top three institutional holders of GMED stocks are: BLACKROCK INC. with ownership of 7,572,497, which is approximately -19.815% of the company’s market cap and around 1.56% of the total institutional ownership; VANGUARD GROUP INC, holding 6,992,414 shares of the stock with an approximate value of $94.4 million in GMED stocks shares; and JANUS HENDERSON GROUP PLC, currently with $89.15 million in GMED stock with ownership of nearly -2.463% of the company’s market capitalization.