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

Globus Medical, Inc. (NYSE:GMED) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $97.82.

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Roth Mkm boosted their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th.

Globus Medical Price Performance

Globus Medical stock opened at $77.48 on Monday. The stock’s fifty day moving average is $85.90 and its two-hundred day moving average is $79.63. The stock has a market cap of $10.66 billion, a PE ratio of 103.31, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical has a 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, research analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

Several hedge funds and other institutional investors have recently made changes to their positions in GMED. Norges Bank purchased a new position in Globus Medical during the fourth quarter worth about $117,102,000. RTW Investments LP purchased a new position in shares of Globus Medical during the 4th quarter worth approximately $80,394,000. Iron Triangle Partners LP acquired a new stake in shares of Globus Medical in the 4th quarter valued at approximately $69,808,000. Polar Capital Holdings Plc purchased a new stake in shares of Globus Medical in the fourth quarter valued at approximately $63,762,000. Finally, Raymond James Financial Inc. acquired a new position in Globus Medical during the fourth quarter worth $58,405,000. Hedge funds and other institutional investors 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.