One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Globus Medical cleared that benchmark Thursday, with a jump from 77 to 85 Thursday.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against that of all other stocks.
Over 100 years of market history reveals that the market's biggest winners tend to have an 80 or higher RS Rating as they launch their biggest price moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to establish and enter a buy zone in heavy trade.
Globus Medical showed 40% earnings growth last quarter. Revenue gains came in at 7%.
The company holds the No. 9 rank among its peers in the Medical-Products industry group. Boston Scientific, Pro-Dex and Axogen are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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