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

Shares of Globus Medical, Inc. (NYSE:GMED) have received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $96.91.

Several research analysts have recently commented on GMED shares. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Thursday, January 9th. Stifel Nicolaus lifted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BTIG Research increased their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Globus Medical Stock Up 0.4 %

GMED stock opened at $90.84 on Friday. The business has a fifty day simple moving average of $84.08 and a 200-day simple moving average of $75.95. Globus Medical has a 52 week low of $49.33 and a 52 week high of $91.44. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 135.57, a PEG ratio of 1.80 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue was up 63.1% on a year-over-year basis. As a group, analysts expect that Globus Medical will post 2.98 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders sold a total of 81,667 shares of company stock valued at $6,674,554 over the last ninety days. Insiders own 18.54% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Several institutional investors and hedge funds have recently bought and sold shares of the business. Coldstream Capital Management Inc. increased its stake in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the last quarter. Stephens Inc. AR increased its position in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after purchasing an additional 140 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Globus Medical by 6.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.