Gabelli restated their buy rating on shares of Globus Medical, Inc. (NYSE:GMED) in a research report released on Tuesday. Gabelli also issued estimates for Globus Medical’s FY2019 earnings at $1.45 EPS.
A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Globus Medical from a hold rating to a buy rating in a research note on Tuesday. Zacks Investment Research upgraded Globus Medical from a sell rating to a hold rating in a research note on Friday, November 10th. ValuEngine upgraded Globus Medical from a hold rating to a buy rating in a research note on Friday, November 10th. Bank of America Corporation upgraded Globus Medical from an underperform rating to a neutral rating in a research note on Friday, November 10th. Finally, Canaccord Genuity restated a buy rating and issued a $38.00 target price on shares of Globus Medical in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $34.00.
Shares of Globus Medical (NYSE:GMED) opened at $36.59 on Tuesday. The stock has a market capitalization of $3,580.00, a PE ratio of 30.24, a P/E/G ratio of 2.94 and a beta of 0.54. Globus Medical has a 1-year low of $20.81 and a 1-year high of $38.04.
Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. analysts anticipate that Globus Medical will post 1.27 earnings per share for the current year.
WARNING: This report was first published by BBNS and is the sole property of of BBNS. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://baseballnewssource.com/markets/globus-medicals-gmed-buy-rating-reiterated-at-gabelli/1783016.html.
In other news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 28.21% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 35 shares during the period. Sei Investments Co. boosted its holdings in Globus Medical by 18.9% during the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after acquiring an additional 503 shares during the period. Advisor Group Inc. boosted its holdings in Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 68 shares during the period. Turner Investments LLC purchased a new stake in Globus Medical during the 2nd quarter valued at about $166,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Globus Medical during the 3rd quarter valued at about $177,000. Institutional investors own 65.59% of the company’s stock.
Globus Medical Company Profile
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.