Globus Medical Inc (NYSE:GMED) has been given a consensus rating of “Buy” by the fourteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $49.57.
Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Canaccord Genuity reiterated a “positive” rating and set a $53.00 target price (up from $47.00) on shares of Globus Medical in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Thursday, February 22nd. Oppenheimer set a $49.00 target price on shares of Globus Medical and gave the company a “hold” rating in a research report on Thursday, February 22nd. Finally, Barclays reiterated a “sell” rating and set a $36.00 target price on shares of Globus Medical in a research report on Wednesday, January 10th.
In other news, CAO Steven Payne sold 3,076 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at approximately $937,187.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anthony L. Williams sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $38.30, for a total transaction of $574,500.00. Following the completion of the sale, the president now owns 15,000 shares of the company’s stock, valued at $574,500. The disclosure for this sale can be found here. Insiders own 28.21% of the company’s stock.
Shares of Globus Medical (NYSE GMED) opened at $51.28 on Friday. Globus Medical has a 1 year low of $27.04 and a 1 year high of $51.69. The stock has a market cap of $4,880.00, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44.
Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, February 21st. The medical device company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. Globus Medical had a net margin of 16.88% and a return on equity of 13.93%. The business had revenue of $176.03 million during the quarter, compared to analyst estimates of $175.50 million. During the same period in the previous year, the business posted $0.31 earnings per share. Globus Medical’s revenue for the quarter was up 16.1% on a year-over-year basis. equities analysts expect that Globus Medical will post 1.5 EPS for the current fiscal year.
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About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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