Globus Medical Inc. (NYSE:GMED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “

Several other equities research analysts have also recently commented on GMED. Leerink Swann cut Globus Medical from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $27.00 in a report on Wednesday, July 27th. Wells Fargo & Co. cut Globus Medical from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a report on Wednesday, July 27th. Canaccord Genuity cut Globus Medical from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $28.00 in a report on Wednesday, July 27th. Barclays PLC dropped their target price on Globus Medical from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. set a $29.00 target price on Globus Medical and gave the stock a “buy” rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Globus Medical presently has an average rating of “Hold” and a consensus price target of $25.09.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Shares of Globus Medical (NYSE:GMED) opened at 21.01 on Wednesday. The stock’s 50 day moving average price is $22.29 and its 200 day moving average price is $23.34. Globus Medical has a 12-month low of $19.25 and a 12-month high of $28.60. The firm has a market cap of $2.01 billion, a PE ratio of 17.22 and a beta of 0.62.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 8th. The medical device company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $135.70 million for the quarter, compared to analysts’ expectations of $139.25 million. Globus Medical had a return on equity of 14.92% and a net margin of 21.20%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts predict that Globus Medical will post $1.20 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of GMED. Advisor Group Inc. purchased a new position in Globus Medical during the second quarter valued at $112,000. BNP Paribas Arbitrage SA boosted its position in Globus Medical by 85.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,852 shares of the medical device company’s stock valued at $116,000 after buying an additional 2,231 shares in the last quarter. BlackRock Inc. boosted its position in Globus Medical by 146.4% in the first quarter. BlackRock Inc. now owns 4,998 shares of the medical device company’s stock valued at $119,000 after buying an additional 2,970 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Globus Medical by 31.7% in the third quarter. Acrospire Investment Management LLC now owns 5,400 shares of the medical device company’s stock valued at $122,000 after buying an additional 1,300 shares in the last quarter. Finally, Invictus RG bought a new position in Globus Medical during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.

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.

5 Day Chart for NYSE:GMED

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