Globus Medical, Inc. (GMED) Upgraded at BidaskClub

Globus Medical, Inc. (NYSE:GMED) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday, October 7th.

A number of other equities research analysts have also recently issued reports on GMED. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Globus Medical in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 target price on shares of Globus Medical and gave the company a “hold” rating in a report on Thursday, August 3rd. Barclays PLC reissued an “underweight” rating and issued a $28.00 price target (down from $30.00) on shares of Globus Medical in a report on Thursday, August 3rd. Finally, Gabelli reissued a “buy” rating on shares of Globus Medical in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.57.

Shares of Globus Medical (NYSE GMED) opened at 30.17 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of 27.18 and a beta of 0.56. The stock has a 50 day moving average price of $29.96 and a 200 day moving average price of $30.87. Globus Medical has a 12 month low of $19.25 and a 12 month high of $34.03.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The firm had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Globus Medical will post $1.27 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Globus Medical, Inc. (GMED) Upgraded at BidaskClub” was originally reported by BBNS and is the property of of BBNS. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/globus-medical-inc-gmed-stock-rating-upgraded-by-bidaskclub/1703467.html.

In related news, insider A Brett Murphy sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.21% of the company’s stock.

A number of institutional investors have recently modified their holdings of GMED. BlackRock Inc. boosted its position in Globus Medical by 22,983.1% in the first quarter. BlackRock Inc. now owns 7,387,282 shares of the medical device company’s stock valued at $218,812,000 after buying an additional 7,355,279 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Globus Medical by 260.0% during the second quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock valued at $88,952,000 after acquiring an additional 1,938,039 shares during the last quarter. Marathon Asset Management LLP raised its stake in shares of Globus Medical by 189.3% during the second quarter. Marathon Asset Management LLP now owns 773,700 shares of the medical device company’s stock valued at $25,644,000 after acquiring an additional 506,241 shares during the last quarter. Koch Industries Inc. raised its stake in shares of Globus Medical by 3,950.6% during the second quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock valued at $465,000 after acquiring an additional 467,595 shares during the last quarter. Finally, Blue Jay Capital Management LLC bought a new position in shares of Globus Medical during the first quarter valued at $11,848,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.