Globus Medical (NYSE:GMED) Cut to Hold at StockNews.com

Globus Medical (NYSE:GMED) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Tuesday. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, 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 report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Price Performance

GMED opened at $73.86 on Friday. The firm has a market cap of $10.16 billion, a PE ratio of 98.48, a P/E/G ratio of 1.61 and a beta of 1.19. The stock has a 50-day moving average price of $83.88 and a 200-day moving average price of $79.71. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93.

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

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.54% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Several institutional investors and hedge funds have recently bought and sold shares of GMED. Coldstream Capital Management Inc. increased its position in Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after buying an additional 131 shares in the last quarter. First Horizon Advisors Inc. grew its stake 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 period. US Bancorp DE increased its holdings in Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after acquiring an additional 135 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Globus Medical by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,787 shares of the medical device company’s stock worth $479,000 after acquiring an additional 150 shares during the period. Finally, Berry Wealth Group LP lifted its holdings in Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after purchasing an additional 164 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.