Globus Medical, Inc. (NYSE:GMED) Receives $88.18 Average PT from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $88.18.

Several analysts recently commented on GMED shares. Morgan Stanley raised their price target on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Bank of America upped their price target on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is currently owned by company insiders.

Institutional Trading of Globus Medical

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. V Square Quantitative Management LLC acquired a new position in Globus Medical during the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical during the second quarter worth $33,000. Quarry LP increased its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Up 0.9 %

GMED opened at $85.29 on Friday. The stock has a market cap of $11.61 billion, a P/E ratio of 127.30, a PEG ratio of 2.02 and a beta of 1.17. The business has a fifty day moving average of $75.67 and a 200 day moving average of $71.27. Globus Medical has a 52-week low of $44.02 and a 52-week high of $85.74.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. Equities analysts anticipate that Globus Medical will post 2.98 EPS for the current fiscal year.

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.