Globus Medical, Inc. (GMED) Now Covered by Needham & Company LLC
“GMED’s core spine organic growth has slowed though we expect some improvement in 2018 due to sales force enhancements. Its Emerging Technologies business should begin to add to growth in 2018 as well. But even accounting for this, we’re concerned that consensus 2018 estimates may be too high. And we believe that GMED’s earnings growth is going to be mostly driven by revenue growth.”,” the firm’s analyst wrote.
A number of other equities analysts also recently issued reports on GMED. BidaskClub raised Globus Medical from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded Globus Medical from a hold rating to a sell rating in a research report on Tuesday, July 4th. Morgan Stanley reissued an equal weight rating on shares of Globus Medical in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. set a $35.00 price target on Globus Medical and gave the stock a hold rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reissued an underweight rating and set a $28.00 price target (down previously from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Globus Medical presently has an average rating of Hold and a consensus price target of $31.38.
Shares of Globus Medical (NYSE GMED) opened at 29.72 on Tuesday. The company has a market cap of $2.86 billion, a PE ratio of 26.77 and a beta of 0.60. The stock’s 50 day moving average is $29.82 and its 200-day moving average is $30.72. Globus Medical has a one year low of $19.25 and a one year high of $34.03.
Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The business had revenue of $152.39 million for the quarter, compared to the consensus estimate of $150.94 million. During the same quarter in the prior year, the company earned $0.29 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Globus Medical will post $1.27 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Globus Medical, Inc. (GMED) Now Covered by Needham & Company LLC” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/30/globus-medical-inc-gmed-now-covered-by-needham-company-llc.html.
In related news, insider A Brett Murphy sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total transaction of $449,850.00. Following the sale, the insider now owns 101,217 shares of the company’s stock, valued at $3,035,497.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 28.21% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after acquiring an additional 35 shares in the last quarter. Sei Investments Co. boosted its holdings in Globus Medical by 18.9% in the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after acquiring an additional 503 shares in the last quarter. Advisor Group Inc. boosted its holdings in Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after acquiring an additional 68 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock worth $136,000 after acquiring an additional 830 shares in the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new stake in Globus Medical in the first quarter worth about $138,000. 65.64% of the stock is owned by institutional investors and hedge funds.
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.
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.