Globus Medical Inc. [GMED] Revenue clocked in at $1.10 billion, down -27.51% YTD: What’s Next?

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Globus Medical Inc. [NYSE: GMED] loss -1.68% or -0.92 points to close at $53.84 with a heavy trading volume of 4041571 shares. The company report on August 28, 2023 at 5:41 PM that Goosehead Insurance and Jackson Financial Set to Join S&P SmallCap 600.

S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600 effective prior to the opening of trading on Friday, September 1:.

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Goosehead Insurance Inc. (NASD: GSHD) will replace NuVasive Inc. (NASD: NUVA) in the S&P SmallCap 600. S&P MidCap 400 constituent Globus Medical Inc. (NYSE: GMED) is acquiring NuVasive in a deal expected to close soon pending final conditions.

It opened the trading session at $55.25, the shares rose to $55.61 and dropped to $53.12, the range by which the price of stock traded the whole day. The daily chart for GMED points out that the company has recorded -8.50% loss over the past six months. However, it is still -5.73% lower than its most recent low trading price.

If we look at the average trading volume of 849.35K shares, GMED reached to a volume of 4041571 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $67.18 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 2.70. 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.

Canaccord Genuity have made an estimate for Globus Medical Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 30, 2023.

The Average True Range (ATR) for Globus Medical Inc. is set at 1.44, with the Price to Sales ratio for GMED stock in the period of the last 12 months amounting to 4.82. The Price to Book ratio for the last quarter was 2.72, with the Price to Cash per share for the same quarter was set at 6.24. Price to Free Cash Flow for GMED in the course of the last twelve months was 43.69 with Quick ratio for the last quarter at 5.60.

Trading performance analysis for GMED stock

Globus Medical Inc. [GMED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.80. With this latest performance, GMED shares dropped by -11.65% in over the last four-week period, additionally sinking by -8.50% over the last 6 months – not to mention a drop of -14.24% 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 34.74, with the RSI for the last a single of trading hit 33.00, and the three-weeks RSI is set at 37.52 for Globus Medical Inc. [GMED]. The present Moving Average for the last 50 days of trading for this stock 58.41, while it was recorded at 54.06 for the last single week of trading, and 62.13 for the last 200 days.

Globus Medical Inc. [GMED]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Globus Medical Inc. [GMED] shares currently have an operating margin of +23.11 and a Gross Margin at +72.48. Globus Medical Inc.’s Net Margin is presently recorded at +18.59.

Return on Total Capital for GMED is now 13.16, given the latest momentum, and Return on Invested Capital for the company is 10.59. Return on Equity for this stock inclined to 10.60, with Return on Assets sitting at 9.43.

Reflecting on the efficiency of the workforce at the company, Globus Medical Inc. [GMED] managed to generate an average of $73,142 per employee. Receivables Turnover for the company is 5.34 with a Total Asset Turnover recorded at a value of 0.51.Globus Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.60 and a Current Ratio set at 7.80.

Globus Medical Inc. [GMED]: An earnings per share (EPS) analysis

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 12.55%.

An analysis of Institutional ownership at Globus Medical Inc. [GMED]

The top three institutional holders of GMED stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GMED stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GMED stock with ownership which is approximately 5.7381%.

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