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Globus Medical Inc. (NYSE:GMED) shares have reached an unprecedented peak, touching an all-time high of $93.68. With a market capitalization of $12.7 billion and an impressive revenue growth of 102.1% over the last twelve months, the medical device maker has shown remarkable strength. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with technical indicators suggesting overbought conditions. This milestone underscores a period of robust performance for the medical device company, which has seen its stock value surge over the past year. Investors have been buoyed by the company’s consistent growth in the medical technology sector, with the stock delivering a 70.41% return over the past year. The ascent to this record price level reflects strong market confidence in Globus Medical ’s innovative product offerings and strategic initiatives, which continue to propel the company forward in a competitive industry. The company maintains a "GREAT" financial health score of 3.32 on InvestingPro, which offers 15+ additional exclusive insights and a comprehensive Pro Research Report for deeper analysis.
In other recent news, Globus Medical has been the subject of several analyst reports following its recent financial updates. Canaccord Genuity maintained its Buy rating on Globus Medical, citing strong Q4 revenue and increased the price target to $101 from the previous $92. This follows the company’s announcement of Q4 results that exceeded both Canaccord Genuity’s and Street estimates. Truist Securities also maintained its Hold rating on Globus Medical, keeping a steady price target of $90.00. The company’s Q4 sales exceeded consensus estimates by 3.5%, reaching $657 million.
BofA Securities upgraded shares of Globus Medical to Neutral from Underperform and increased the price target to $97 from $80. This comes after Globus Medical’s successful integration of NuVasive (NASDAQ:NUVA), which has been managed more effectively than initially anticipated. The company’s Q4 revenue announcement exceeded Wall Street’s expectations by 3%.
Globus Medical reported a 6.6% sales increase for Q4 2024 compared to the same period in 2023, with sales reaching approximately $657.0 million. The company’s full-year sales for 2024 also saw a significant rise of 60.6% to approximately $2.52 billion. Looking ahead, Globus Medical has established its revenue guidance for the full year 2025 to be between $2.66 billion and $2.69 billion. The company also anticipates a fully diluted non-GAAP earnings per share in the range of $3.40 to $3.50.
RBC Capital Markets provided insights into the Medical (TASE:PMCN) Supplies & Devices sector, projecting a favorable outlook for 2025. Their smid-cap selections feature Globus Medical, Penumbra (NYSE:PEN), and Insulet (NASDAQ:PODD) Corporation. They believe that stocks like DexCom (NASDAQ:DXCM), Medtronic (NYSE:MDT), and Edwards Lifesciences (NYSE:EW) offer the best value or potential upside, particularly those that are dislocated or have recently reset.
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