Should you consider GLOBUS MEDICAL INC - A (NYSE:GMED) for high growth investing?

Our stock screener has detected a potential breakout setup on GLOBUS MEDICAL INC - A (NYSE:GMED). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:GMED.

Insights from Technical Analysis

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, GMED scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, GMED has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that GMED is one of the better performing stocks in the market, outperforming 90% of all stocks. We also observe that the gains produced by GMED over the past year are nicely spread over this period.
• GMED is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 88% of 187 stocks in the same industry.
• GMED is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GMED is lagging the market slightly.
• GMED is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Our latest full technical report of GMED contains the most current technical analsysis.

Why is NYSE:GMED a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:GMED has a 8 as its setup rating, indicating its current consolidation status.

GMED has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 82.91, a Stop Loss order could be placed below this zone.

Looking into the high growth metrics of GLOBUS MEDICAL INC - A

• The EPS of GLOBUS MEDICAL INC - A has exhibited growth from one quarter to another (Q2Q), with a 45.61% increase. This underscores the company's ability to generate higher earnings and improve its financial standing.
• GLOBUS MEDICAL INC - A has demonstrated strong quarter-to-quarter (Q2Q) revenue growth of 63.1%, reflecting its ability to generate consistent increases in sales. This growth highlights the company's effective market positioning and its potential for continued success.
• With impressive 1-year revenue growth of 102.0%, GLOBUS MEDICAL INC - A showcases its ability to generate increased sales and revenue. This growth highlights the company's strong customer demand and its effective business strategies.
• The recent financial report of GLOBUS MEDICAL INC - A demonstrates a 45.61% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• GLOBUS MEDICAL INC - A shows accelerating EPS growth: when comparing the current Q2Q growth of 45.61% to the previous year Q2Q growth of 14.0%, we see the growth rate improving.
• The free cash flow (FCF) of GLOBUS MEDICAL INC - A has seen steady growth over the past year, indicating enhanced cash flow generation and financial health. This trend underscores the company's effective capital management and its ability to generate sustainable cash flows.
• GLOBUS MEDICAL INC - A maintains a healthy Debt-to-Equity ratio of 0.0. This indicates the company's conservative capital structure and signifies its ability to effectively manage debt obligations while maintaining a strong equity position.
• GLOBUS MEDICAL INC - A demonstrates a balanced ownership structure, with institutional shareholders at 72.76%. This indicates a diverse investor base, which can contribute to price stability and potential future growth.
• With a track record of beating EPS estimates 3 times in the last 4 quarters, GLOBUS MEDICAL INC - A showcases its consistent ability to deliver earnings surprises. This reflects the company's strong execution and its competitive position in the market.
• The Relative Strength (RS) of GLOBUS MEDICAL INC - A has been consistently solid, with a current 90.61 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. GLOBUS MEDICAL INC - A exhibits strong prospects for further price appreciation.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.