Research analysts at Aegis assumed coverage on shares of Globus Medical Inc. (NYSE:GMED) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the medical device company’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Canaccord Genuity set a $27.00 price objective on Globus Medical and gave the stock a “hold” rating in a report on Tuesday, November 8th. Leerink Swann reissued a “hold” rating and set a $23.00 price objective on shares of Globus Medical in a report on Wednesday, November 9th. Oppenheimer Holdings Inc. lowered Globus Medical from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $29.00 to $23.00 in a report on Wednesday, November 9th. Finally, William Blair lowered Globus Medical from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Globus Medical has a consensus rating of “Hold” and an average price target of $25.09.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Shares of Globus Medical (NYSE:GMED) opened at 21.71 on Wednesday. Globus Medical has a 1-year low of $19.25 and a 1-year high of $28.60. The firm has a market capitalization of $2.08 billion, a P/E ratio of 17.80 and a beta of 0.62. The stock has a 50 day moving average of $22.06 and a 200-day moving average of $23.24.

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

TRADEMARK VIOLATION WARNING: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this article can be read at https://www.thecerbatgem.com/2016/11/30/globus-medical-inc-gmed-now-covered-by-analysts-at-aegis.html.

Several institutional investors have recently made changes to their positions in GMED. Fox Run Management L.L.C. increased its position in shares of Globus Medical by 0.5% in the second quarter. Fox Run Management L.L.C. now owns 20,100 shares of the medical device company’s stock worth $479,000 after buying an additional 100 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Globus Medical by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,699 shares of the medical device company’s stock worth $565,000 after buying an additional 127 shares in the last quarter. American International Group Inc. increased its position in shares of Globus Medical by 0.4% in the second quarter. American International Group Inc. now owns 40,339 shares of the medical device company’s stock worth $961,000 after buying an additional 141 shares in the last quarter. LPL Financial LLC increased its position in shares of Globus Medical by 0.3% in the first quarter. LPL Financial LLC now owns 52,396 shares of the medical device company’s stock worth $1,242,000 after buying an additional 152 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Globus Medical by 2.0% in the second quarter. ProShare Advisors LLC now owns 8,570 shares of the medical device company’s stock worth $204,000 after buying an additional 168 shares in the last quarter. Institutional investors own 89.99% of the company’s stock.

Globus Medical Company Profile

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

Receive News & Stock Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related stocks with our FREE daily email newsletter.