Globus Medical, Inc. (NYSE:GMED) Receives $96.91 Consensus PT from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $96.91.

A number of research firms have recently issued reports on GMED. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, BTIG Research upped their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Globus Medical Price Performance

GMED stock opened at $84.03 on Thursday. The stock has a market capitalization of $11.44 billion, a PE ratio of 125.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company’s 50-day moving average is $86.62 and its 200-day moving average is $78.40. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

A number of hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. lifted its holdings in shares of Globus Medical by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the last quarter. First Horizon Advisors Inc. raised its position in Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the period. US Bancorp DE raised its position 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 purchasing an additional 135 shares during the period. Stephens Inc. AR raised its position in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after purchasing an additional 140 shares during the period. 95.16% of the stock is owned by institutional investors.

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.