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

Shares of Globus Medical, Inc. (NYSE:GMED) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.78.

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Morgan Stanley raised their price target on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. BTIG Research upped their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays raised their target price on shares of Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada upped their price target on shares of Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th.

Globus Medical Stock Up 1.8 %

GMED stock opened at $74.88 on Tuesday. The company’s 50-day moving average price is $71.56 and its two-hundred day moving average price is $67.60. The firm has a market cap of $10.14 billion, a P/E ratio of 249.60, a P/E/G ratio of 2.03 and a beta of 1.17. Globus Medical has a 12 month low of $43.38 and a 12 month high of $75.98.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same period last year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 115.9% compared to the same quarter last year. Equities analysts predict that Globus Medical will post 2.84 EPS for the current year.

Insider Activity at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares of the company’s stock, valued at $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globus Medical

Several hedge funds and other institutional investors have recently bought and sold shares of GMED. V Square Quantitative Management LLC bought a new position in shares of Globus Medical in the 3rd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical in the second quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its stake in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.