Globus Medical, Inc. (NYSE:GMED) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $97.09.

Several research firms have commented on GMED. Wells Fargo & Company lowered their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. BTIG Research raised their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Barclays increased their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Medical

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $27,000. Quarry LP grew its holdings in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 132 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $73.66 on Friday. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market cap of $10.13 billion, a PE ratio of 98.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The firm has a fifty day moving average price of $82.50 and a 200 day moving average price of $79.83.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. As a group, equities analysts expect that Globus Medical will post 3.44 EPS for the current year.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.