Globus Medical Inc (NYSE: GMED)’s stock price has decreased by -1.21 compared to its previous closing price of 53.11. However, the company has seen a 2.44% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-04 that Globus Medical (GMED) witnesses notable gains across its product portfolio in expandables, biologics, MIS screws, 3D printed implants and cervical offerings.
Is It Worth Investing in Globus Medical Inc (NYSE: GMED) Right Now?
The price-to-earnings ratio for Globus Medical Inc (NYSE: GMED) is 45.05x, which is above its average ratio. Moreover, the 36-month beta value for GMED is 1.10. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 3 as “overweight,” 7 as “hold,” and 1 as “sell.”
The public float for GMED is 112.02M and currently, short sellers hold a 6.93% of that float. On April 12, 2024, GMED’s average trading volume was 1.15M shares.
GMED’s Market Performance
GMED’s stock has seen a 2.44% increase for the week, with a -5.10% drop in the past month and a -3.55% fall in the past quarter. The volatility ratio for the week is 2.29%, and the volatility levels for the past 30 days are at 2.65% for Globus Medical Inc The simple moving average for the past 20 days is 0.13% for GMED’s stock, with a -0.87% simple moving average for the past 200 days.
Analysts’ Opinion of GMED
Many brokerage firms have already submitted their reports for GMED stocks, with BTIG Research repeating the rating for GMED by listing it as a “Buy.” The predicted price for GMED in the upcoming period, according to BTIG Research is $60 based on the research report published on March 18, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see GMED reach a price target of $75. The rating they have provided for GMED stocks is “Buy” according to the report published on October 20th, 2023.
Stifel gave a rating of “Buy” to GMED, setting the target price at $61 in the report published on September 19th of the previous year.
GMED Trading at -1.57% from the 50-Day Moving Average
After a stumble in the market that brought GMED to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.56% of loss for the given period.
Volatility was left at 2.65%, however, over the last 30 days, the volatility rate increased by 2.29%, as shares sank -5.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.65% lower at present.
During the last 5 trading sessions, GMED rose by +2.44%, which changed the moving average for the period of 200-days by -9.22% in comparison to the 20-day moving average, which settled at $52.26. In addition, Globus Medical Inc saw -1.54% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GMED starting from Norwalk Leslie V, who sale 10,590 shares at the price of $51.99 back on Mar 15 ’24. After this action, Norwalk Leslie V now owns 17,419 shares of Globus Medical Inc, valued at $550,574 using the latest closing price.
Huller Kelly, the SVP, GC, Corporate Secretary of Globus Medical Inc, sale 7,500 shares at $54.10 during a trade that took place back on Mar 01 ’24, which means that Huller Kelly is holding 0 shares at $405,730 based on the most recent closing price.
Stock Fundamentals for GMED
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.65 for the gross margin
The net margin for Globus Medical Inc stands at 0.08. The total capital return value is set at 0.03. Equity return is now at value 4.20, with 3.43 for asset returns.
Based on Globus Medical Inc (GMED), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at 0.57. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 5.26.
Currently, EBITDA for the company is 401.03 million with net debt to EBITDA at 0.14. When we switch over and look at the enterprise to sales, we see a ratio of 4.56. The receivables turnover for the company is 3.11for trailing twelve months and the total asset turnover is 0.31. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.88.
Conclusion
To wrap up, the performance of Globus Medical Inc (GMED) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
