Globus Medical, Inc. (NYSE:GMED) Receives Average Recommendation of “Moderate Buy” from Brokerages

Globus Medical, Inc. (NYSE:GMED) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $97.09.

A number of brokerages have issued reports on GMED. Stifel Nicolaus increased their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Barclays lifted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Roth Mkm upped their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after acquiring an additional 285,172 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Globus Medical during the third quarter valued at approximately $205,000. Cerity Partners LLC grew its stake in shares of Globus Medical by 25.9% during the third quarter. Cerity Partners LLC now owns 45,750 shares of the medical device company’s stock valued at $3,273,000 after buying an additional 9,404 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Globus Medical by 1,142.4% in the third quarter. Bank of Montreal Can now owns 231,323 shares of the medical device company’s stock worth $16,334,000 after buying an additional 212,704 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Globus Medical during the 3rd quarter worth approximately $2,709,000. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Up 0.2 %

NYSE GMED opened at $73.33 on Friday. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93. The company has a market capitalization of $10.09 billion, a P/E ratio of 97.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The stock’s 50-day moving average price is $81.40 and its 200-day moving average price is $80.05.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Research analysts anticipate that Globus Medical will post 3.44 EPS for the current year.

Globus Medical Company Profile

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