Globus Medical, Inc. (NYSE:GMED) Receives $93.55 Average PT from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $94.55.

GMED has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Insider Buying and Selling at Globus Medical

In other news, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares in the company, valued at approximately $40,242,076. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock worth $7,674,950 over the last ninety days. Insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Globus Medical during the third quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical during the 2nd quarter valued at approximately $33,000. Quarry LP increased its position in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC raised its holdings in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Globus Medical in the 2nd quarter worth approximately $52,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Up 0.8 %

Shares of NYSE GMED opened at $82.63 on Wednesday. The firm has a market capitalization of $11.25 billion, a PE ratio of 123.33, a PEG ratio of 1.99 and a beta of 1.19. Globus Medical has a one year low of $49.33 and a one year high of $87.22. The business has a 50-day moving average price of $80.02 and a two-hundred day moving average price of $73.34.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the previous year, the company posted $0.57 EPS. Globus Medical’s revenue was up 63.1% on a year-over-year basis. Research analysts anticipate that Globus Medical will post 2.97 EPS for the current year.

Globus Medical Company Profile

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.