Stifel Nicolaus Issues Positive Forecast for Globus Medical (NYSE:GMED) Stock Price

Globus Medical (NYSE:GMED) had its price target increased by equities researchers at Stifel Nicolaus from $92.00 to $94.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 14.54% from the company’s current price.

Several other equities analysts have also issued reports on the company. BTIG Research lifted their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Truist Financial increased their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Stock Down 2.4 %

Shares of GMED opened at $82.07 on Friday. The stock has a market capitalization of $11.18 billion, a P/E ratio of 122.51, a PEG ratio of 1.60 and a beta of 1.19. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The firm has a fifty day simple moving average of $86.76 and a two-hundred day simple moving average of $78.94.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Sell-side analysts expect that Globus Medical will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith W. Pfeil sold 14,167 shares of the 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 SEC, which is available at the SEC website. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Globus Medical

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Globus Medical during the 4th quarter valued at $117,102,000. RTW Investments LP acquired a new position in Globus Medical during the 4th quarter valued at about $80,394,000. Iron Triangle Partners LP purchased a new stake in Globus Medical in the fourth quarter valued at about $69,808,000. Polar Capital Holdings Plc acquired a new stake in Globus Medical in the fourth quarter worth about $63,762,000. Finally, Raymond James Financial Inc. purchased a new stake in Globus Medical during the 4th quarter worth approximately $58,405,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

About Globus Medical

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.