Globus Medical, Inc. (NYSE:GMED) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, June 22nd.
Several other equities research analysts also recently weighed in on GMED. Aegis reiterated a “buy” rating and issued a $31.00 price target on shares of Globus Medical in a report on Tuesday, February 28th. Oppenheimer Holdings, Inc. set a $29.00 price target on Globus Medical and gave the stock a “hold” rating in a report on Tuesday, February 28th. Leerink Swann upgraded Globus Medical from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 12th. Barclays PLC downgraded Globus Medical from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $24.00 to $28.00 in a report on Monday, April 24th. Finally, Canaccord Genuity upgraded Globus Medical from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $37.00 in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.89.
Globus Medical (NYSE:GMED) opened at 31.94 on Thursday. The company has a market capitalization of $3.07 billion, a PE ratio of 29.30 and a beta of 0.62. Globus Medical has a 52-week low of $19.25 and a 52-week high of $34.03. The firm’s 50-day moving average is $32.53 and its 200-day moving average is $29.59.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, May 3rd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 14.15% and a net margin of 18.09%. The business had revenue of $155.81 million during the quarter. On average, equities research analysts forecast that Globus Medical will post $1.27 EPS for the current year.
In other news, President Anthony L. Williams sold 16,153 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $31.94, for a total value of $515,926.82. Following the completion of the sale, the president now owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of GMED. Russell Investments Group Ltd. purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $3,731,000. Comerica Bank purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $1,472,000. State Street Corp boosted its stake in shares of Globus Medical by 73.8% in the fourth quarter. State Street Corp now owns 2,169,124 shares of the medical device company’s stock worth $53,813,000 after buying an additional 920,880 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $264,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Globus Medical by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,786,939 shares of the medical device company’s stock worth $44,334,000 after buying an additional 168,849 shares in the last quarter. 68.91% of the stock is owned by institutional investors.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
Receive News & Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related companies with our FREE daily email newsletter.