Globus Medical, Inc. (GMED) Rating Reiterated by Oppenheimer Holdings, Inc.
Globus Medical, Inc. (NYSE:GMED)‘s stock had its “hold” rating reaffirmed by research analysts at Oppenheimer Holdings, Inc. in a research note issued on Wednesday.
Several other brokerages have also recently commented on GMED. BidaskClub upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research note on Tuesday, July 11th. Barclays PLC reiterated a “sell” rating and issued a $30.00 price target on shares of Globus Medical in a research note on Friday, May 5th. Finally, Canaccord Genuity upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $37.00 in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $30.43.
Shares of Globus Medical (NYSE GMED) opened at 28.28 on Wednesday. The company’s 50-day moving average price is $30.86 and its 200 day moving average price is $30.39. The firm has a market capitalization of $2.72 billion, a PE ratio of 25.48 and a beta of 0.60. Globus Medical has a 12-month low of $19.25 and a 12-month high of $34.03.
Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The company had revenue of $152.39 million for the quarter, compared to analysts’ expectations of $150.94 million. During the same quarter in the previous year, the company earned $0.29 EPS. Globus Medical’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Globus Medical will post $1.27 earnings per share for the current year.
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In other news, President Anthony L. Williams sold 16,153 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the sale, the president now directly owns 16,153 shares in the company, valued at approximately $515,926.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 28.21% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Globus Medical by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 2,629,315 shares of the medical device company’s stock worth $77,878,000 after buying an additional 58,811 shares during the period. Elkfork Partners LLC acquired a new stake in Globus Medical during the first quarter worth $114,000. US Bancorp DE increased its stake in Globus Medical by 24.8% in the first quarter. US Bancorp DE now owns 41,935 shares of the medical device company’s stock worth $1,243,000 after buying an additional 8,340 shares during the period. First Trust Advisors LP acquired a new stake in Globus Medical during the first quarter worth $229,000. Finally, Eqis Capital Management Inc. acquired a new stake in Globus Medical during the first quarter worth $319,000. Hedge funds and other institutional investors own 65.80% 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.
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