GMED Stock Summary and Trading Ideas (Globus Medical Class A | NYSE:GMED)

Globus Medical Inc is a medical device company that develops and provides healthcare products and solutions to hospitals, physicians, and surgical centers. The firm's products are organized into two categories: musculoskeletal solutions, which include medical devices and instruments used mostly for spinal and orthopedic procedures, and enabling technologies, which include advanced computer systems developed for enhancing surgical capabilities. The vast majority of the company's revenue is generated from musculoskeletal solutions products, and more than half of the revenue is earned in the United States.

Globus Medical Class A trades on the NYSE stock market under the symbol GMED.

As of April 19, 2024, GMED stock price declined to $50.35 with 989,183 million shares trading.

GMED has a beta of 1.25, meaning it tends to be more sensitive to market movements. GMED has a correlation of 0.25 to the broad based SPY ETF.

GMED has a market cap of $6.82 billion. This is considered a Mid Cap stock.

Last quarter Globus Medical Class A reported $617 million in Revenue and $.60 earnings per share. This beat revenue expectation by $9 million and missed earnings estimates by -$.01.

In the last 3 years, GMED stock traded as high as $84.23 and as low as $43.39.

The top ETF exchange traded funds that GMED belongs to (by Net Assets): VTI, IJH, VB, VXF, VBK.

GMED has underperformed the market in the last year with a return of -12.8%, while the SPY ETF gained +21.2%. In the last 3 month period, GMED fell short of the market, returning -9.6%, while SPY returned +4.3%. However, in the most recent 2 weeks GMED has outperformed the stock market by returning -1.7%, while SPY returned -3.5%.

GMED support price is $49.88 and resistance is $51.62 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GMED stock will trade within this expected range on the day.