It operates through the United States and International geographical segments. The company was founded by David C. Paul, David D. Davidar and Andrew Iott in March 2003 and is headquartered in Audubon, PA. 11 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for Globus Medical in the last year. There are currently 1 sell rating, 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should “hold” GMED shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GMED, but not buy additional shares or sell existing shares.
- Per a report by Research and Markets, the global musculoskeletal diseases market is valued at $57.4 billion mark in 2017 and is estimated to grow at a CAGR of more than 5.5% by 2023.
- The medical-device maker’s revenue and earnings fell below Wall Street expectations.
- The scores are based on the trading styles of Value, Growth, and Momentum.
- In the past year, GMED’s shares have declined 6.9% against the industry’s rise of 6.5%.
Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. Globus Medical, Inc., a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. In addition, it distributes human cell, tissue, and cellular and tissue-based products. The company sells its products through direct or distributor sales presence, as well as its hip and knee products primarily through independent sales agents. Globus Medical, Inc. was incorporated in 2003 and is headquartered in Audubon, Pennsylvania.
It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2023 and why they should be in your portfolio. Sign-up to receive the latest news and ratings for Globus Medical and its competitors with MarketBeat’s FREE daily newsletter. The implied price for NuVasive under terms of the deal is $57.72 a share. In 2022, Globus Medical’s revenue was $1.02 billion, an increase of 6.76% compared to the previous year’s $958.10 million.
Some better-ranked stocks in the broader medical space are Haemonetics (HAE Quick QuoteHAE – Free Report) , Quanterix (QTRX Quick QuoteQTRX – Free Report) and SiBone (SIBN Quick QuoteSIBN – Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days.
Analysts Conflicted on These Healthcare Names: Cellectis SA (CLLS), Globus Medical (GMED) and Blueprint Medicines (BPMC)
The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.
The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies. A recent stock price dip gives buy-and-hold investors an attractive entry price. The scores are based on the trading styles of Value, Growth, and Momentum.
Key Earnings Data
Growth was led primarily by the company’s spine and trauma businesses performances. 47 employees have rated Globus Medical Chief Executive Officer David Demski on Glassdoor.com. David Demski has an approval rating of 61% among the company’s employees. This puts David Demski in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover https://1investing.in/ a period from January 1, 1988 through July 31, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.
This above-market growth is driven by competitive rep productivity and robotic pull-through. Per a report by Research and Markets, the global musculoskeletal diseases market is valued at $57.4 billion mark in 2017 and is estimated to grow at a CAGR of more than 5.5% by 2023. The transaction has solid financial credentials for wealth generation and appealing upside revenue potential. Following the close of the transaction, NuVasive shareholders shall own approximately 28% of the combined company, and Globus Medical shareholders shall own approximately 72% on a fully diluted basis.
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Provides a general description of the business conducted by this company. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s.
Globus Medical Inc. (GMED Quick QuoteGMED – Free Report) recently announced that it has successfully closed the previously announced merger with NuVasive. The combined firm will offer one of the most extensive selections of musculoskeletal procedural solutions, enabling technology to influence the care continuum for surgeons and patients. One share of GMED stock can currently be purchased for approximately $49.10.
Globus Medical (GMED) Receives a Hold from Truist Financial
The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, market-skimming according to our 10 year backtest. Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. During second-quarter 2023, Globus Medical’s Musculoskeletal Solutions revenues were up 9.7% year over year.
Globus Medical GMED, -1.18% said Thursday it will pay 0.75 a share of its stock for each share of NuVasive NUVA, -2.41% stock in a deal that values NuVasive at about $3.1 billion or $57.72 a share. The Barchart Technical Opinion rating is a 72% Sell with a Strengthening short term outlook on maintaining the current direction. The medical-device maker’s revenue and earnings fell below Wall Street expectations. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity.
Globus Medical saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 10,570,000 shares, an increase of 32.6% from the August 15th total of 7,970,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is presently 6.8 days.
Price and EPS Surprise Chart
There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. In the past year, GMED’s shares have declined 6.9% against the industry’s rise of 6.5%. Further, U.S. spine grew 6% in Q2 with notable gains across our product portfolio in biologics, MIS and pedicle screws, and 3D-printed implants.
View analysts price targets for GMED or view top-rated stocks among Wall Street analysts. SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%. QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%.
ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Galmed Pharmaceuticals Ltd. is a clinical-stage drug development biopharmaceutical company, which engages in the development of oral therapy for the treatment of non-alcoholic steato-hepatitis (NASH). Its product candidate, Aramchol, is a synthetic fatty acid-bile acid conjugate molecule for the oral treatment of NASH in patients who are overweight or obese and have prediabetes or type II diabetes mellitus. The company was founded by Allen Baharaff and Tuvia Gilat in 2000 and is headquartered in Tel Aviv, Israel.
New Strong Buy Stocks for September 14th
In the last reported quarter, it posted an earnings surprise of 55.56%. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy.
- That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style.
- The consensus among Wall Street research analysts is that investors should “hold” GMED shares.
- A hold rating indicates that analysts believe investors should maintain any existing positions they have in GMED, but not buy additional shares or sell existing shares.
- The company sells its products through direct or distributor sales presence, as well as its hip and knee products primarily through independent sales agents.
The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
Conversely, Globus Medical’s spine business is in a more balanced position amid the ongoing health crisis. The segment is gaining from product launches, competitive recruiting and pull-through from robotics. The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023. Since then, GMED stock has decreased by 33.9% and is now trading at $49.10.
Globus Medical, Inc. operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology.
The deal’s closing has brought together two major players in the growing musculoskeletal space currently valued at $50 billion. It combines Globus Medical’s and NuVasive’s complementary spine and orthopedic solutions and enabling technologies to create one of the industry’s most comprehensive, innovative offerings. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. The medical device maker reported second-quarter results that were much better than expected.