Globus Medical Inc (GMED) Receives Average Rating of “Buy” from Analysts

Globus Medical Inc (NYSE:GMED) has been assigned an average recommendation of “Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong 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 $56.00.

Several brokerages have issued reports on GMED. Zacks Investment Research downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Morgan Stanley raised their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. Oppenheimer set a $57.00 price objective on shares of Globus Medical and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Needham & Company LLC raised their price objective on shares of Globus Medical from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Cantor Fitzgerald set a $65.00 price objective on shares of Globus Medical and gave the stock a “buy” rating in a research report on Tuesday, November 13th.

In other news, Chairman David C. Paul sold 707,191 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $54.01, for a total value of $38,195,385.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 28.44% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Price Capital Management Inc. acquired a new stake in shares of Globus Medical in the 3rd quarter worth $131,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Globus Medical in the 2nd quarter worth $125,000. Penserra Capital Management LLC acquired a new stake in shares of Globus Medical in the 3rd quarter worth $161,000. Hsbc Holdings PLC acquired a new stake in shares of Globus Medical in the 3rd quarter worth $206,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Globus Medical in the 3rd quarter worth $207,000. Institutional investors own 64.19% of the company’s stock.

Globus Medical stock traded up $0.30 during midday trading on Thursday, hitting $50.56. 247,230 shares of the company’s stock were exchanged, compared to its average volume of 756,188. Globus Medical has a 12-month low of $36.62 and a 12-month high of $57.83. The company has a market capitalization of $4.95 billion, a P/E ratio of 38.60, a PEG ratio of 2.41 and a beta of 0.65.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, November 8th. The medical device company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.06. Globus Medical had a net margin of 20.79% and a return on equity of 15.36%. The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $167.47 million. During the same period last year, the firm posted $0.30 EPS. Globus Medical’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Globus Medical will post 1.62 earnings per share for the current year.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

Featured Article: What is Depreciation?

Analyst Recommendations for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply