For Globus Medical Inc [GMED], Analyst sees a rise to $75. What next?

Globus Medical Inc [NYSE: GMED] price plunged by -6.29 percent to reach at -$3.48. The company report on February 20, 2024 at 4:15 PM that Globus Medical Reports Fourth Quarter and Full Year 2023 Results.

The one-year GMED stock forecast points to a potential upside of 21.11. The average equity rating for GMED stock is currently 2.38, trading closer to a bullish pattern in the stock market.

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Guru’s Opinion on 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 $65.75 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 2.38. 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.

ROTH MKM have made an estimate for Globus Medical Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2023. The new note on the price target was released on September 19, 2023, representing the official price target for Globus Medical Inc stock. Previously, the target price had yet another raise to $67, while Canaccord Genuity analysts kept a Buy rating on GMED stock. On February 13, 2023, analysts decreased their price target for GMED shares from 83 to 63.

The Average True Range (ATR) for Globus Medical Inc is set at 1.63, with the Price to Sales ratio for GMED stock in the period of the last 12 months amounting to 4.48. The Price to Book ratio for the last quarter was 1.77, with the Price to Cash per share for the same quarter was set at 3.82. Price to Free Cash Flow for GMED in the course of the last twelve months was 42.50 with Quick ratio for the last quarter at 2.72.

GMED Stock Performance Analysis:

Globus Medical Inc [GMED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.62. With this latest performance, GMED shares dropped by -0.54% in over the last four-week period, additionally plugging by 5.64% over the last 6 months – not to mention a drop of -1.54% 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 38.34, with the RSI for the last a single of trading hit 31.87, and the three-weeks RSI is set at 42.68 for Globus Medical Inc [GMED]. The present Moving Average for the last 50 days of trading for this stock 54.12, while it was recorded at 54.59 for the last single week of trading, and 53.31 for the last 200 days.

Insight into Globus Medical Inc Fundamentals:

Globus Medical Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.72 and a Current Ratio set at 4.88.

GMED Stock EPS

With the latest financial reports released by the company, Globus Medical Inc posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.90%. 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 16.20%.

Globus Medical Inc [GMED] Institutonal Ownership Details

The top three institutional holders of GMED stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GMED stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GMED stock with ownership which is approximately 5.8325%.

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