Globus Medical, Inc. (NYSE:GMED) Receives $96.91 Consensus Target Price from Brokerages

Globus Medical, Inc. (NYSE:GMED) has received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $96.91.

A number of equities analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler boosted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Roth Mkm boosted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada lifted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th.

Globus Medical Trading Down 0.3 %

GMED stock opened at $84.03 on Thursday. The firm’s 50-day moving average price is $86.62 and its two-hundred day moving average price is $78.40. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 125.42, a PEG ratio of 1.68 and a beta of 1.19.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GMED. AQR Capital Management LLC raised its holdings in shares of Globus Medical by 1.5% during the second quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after purchasing an additional 228 shares during the last quarter. Creative Planning increased its holdings in Globus Medical by 16.8% during the second quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock valued at $422,000 after buying an additional 886 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Globus Medical during the second quarter valued at approximately $611,000. Handelsbanken Fonder AB increased its holdings in Globus Medical by 38.8% during the third quarter. Handelsbanken Fonder AB now owns 40,097 shares of the medical device company’s stock valued at $2,869,000 after buying an additional 11,200 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Globus Medical by 40.7% during the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock valued at $64,000 after buying an additional 257 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.