Globus Medical, Inc. (NYSE:GMED) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been given a consensus recommendation of “Hold” by the twelve research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $65.11.

GMED has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Monday, September 18th. Wells Fargo & Company dropped their price target on shares of Globus Medical from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, September 15th. StockNews.com assumed coverage on shares of Globus Medical in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet downgraded shares of Globus Medical from a “b-” rating to a “c+” rating in a research report on Thursday, August 31st. Finally, Barclays boosted their target price on shares of Globus Medical from $77.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GMED. Nuance Investments LLC lifted its holdings in Globus Medical by 15,474.0% during the first quarter. Nuance Investments LLC now owns 1,846,299 shares of the medical device company’s stock valued at $104,574,000 after purchasing an additional 1,834,444 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of Globus Medical in the first quarter worth about $90,386,000. Barclays PLC lifted its holdings in shares of Globus Medical by 9,332.5% in the first quarter. Barclays PLC now owns 1,213,115 shares of the medical device company’s stock worth $68,710,000 after buying an additional 1,200,254 shares in the last quarter. Paradice Investment Management LLC purchased a new stake in shares of Globus Medical in the third quarter worth about $55,053,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Globus Medical by 80.0% in the third quarter. Bank of New York Mellon Corp now owns 2,406,682 shares of the medical device company’s stock worth $119,492,000 after buying an additional 1,069,419 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Globus Medical Trading Down 0.4 %

GMED opened at $45.38 on Tuesday. Globus Medical has a fifty-two week low of $43.38 and a fifty-two week high of $80.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.47 and a quick ratio of 2.36. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.73 and a beta of 1.10. The company’s 50 day moving average price is $49.28 and its two-hundred day moving average price is $54.30.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 7th. The medical device company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $383.60 million for the quarter, compared to analyst estimates of $306.78 million. Globus Medical had a net margin of 12.88% and a return on equity of 9.79%. The company’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. As a group, research analysts predict that Globus Medical will post 2.31 earnings per share for the current year.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It 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 pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.