Globus Medical (NYSE:GMED)‘s stock had its “buy” rating restated by equities researchers at Gabelli in a research note issued to investors on Tuesday, November 14th. Gabelli also issued estimates for Globus Medical’s FY2019 earnings at $1.45 EPS.
GMED has been the topic of a number of other research reports. Barclays reaffirmed an “underweight” rating and issued a $28.00 price target (down previously from $30.00) on shares of Globus Medical in a report on Thursday, August 3rd. BidaskClub upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a report on Friday, November 10th. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, BTIG Research reissued a “buy” rating and issued a $37.00 price target on shares of Globus Medical in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.00.
Shares of Globus Medical (NYSE GMED) traded down $0.39 on Tuesday, hitting $37.62. The stock had a trading volume of 656,219 shares, compared to its average volume of 873,594. Globus Medical has a 12 month low of $21.64 and a 12 month high of $38.85. The firm has a market cap of $3,625.67, a P/E ratio of 30.10, a PEG ratio of 2.93 and a beta of 0.57.
In other Globus Medical news, insider A Brett Murphy sold 51,449 shares of Globus Medical stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the transaction, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.21% of the company’s stock.
Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position 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 worth $100,000 after purchasing an additional 35 shares during the last quarter. Sei Investments Co. grew its position 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 worth $105,000 after purchasing an additional 503 shares during the last quarter. Advisor Group Inc. grew its position 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 worth $114,000 after purchasing an additional 68 shares during the last quarter. Turner Investments LLC purchased a new stake in Globus Medical during the 2nd quarter worth approximately $166,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Globus Medical during the 3rd quarter worth approximately $177,000. 72.20% of the stock is currently owned by hedge funds and other 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.
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