Globus Medical’s (GMED) “Buy” Rating Reaffirmed at Gabelli
Several other research analysts have also weighed in on GMED. BTIG Research reiterated a buy rating and issued a $37.00 price objective on shares of Globus Medical in a research note on Thursday, November 9th. Canaccord Genuity reiterated a buy rating and issued a $38.00 price objective on shares of Globus Medical in a research note on Thursday, November 9th. ValuEngine upgraded shares of Globus Medical from a hold rating to a buy rating in a research note on Friday, November 10th. Zacks Investment Research raised shares of Globus Medical from a sell rating to a hold rating in a research report on Friday, November 10th. Finally, Barclays PLC reissued an underweight rating and issued a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Globus Medical currently has an average rating of Buy and a consensus target price of $34.00.
Globus Medical (NYSE:GMED) traded up $0.49 during mid-day trading on Tuesday, hitting $37.80. 1,647,900 shares of the stock were exchanged, compared to its average volume of 679,638. Globus Medical has a twelve month low of $20.55 and a twelve month high of $38.04. The firm has a market capitalization of $3,592.62, a price-to-earnings ratio of 29.85, a P/E/G ratio of 2.90 and a beta of 0.55.
Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $150.73 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. equities research analysts predict that Globus Medical will post 1.27 EPS for the current fiscal year.
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In other Globus Medical news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the sale, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.21% of the stock is owned by corporate insiders.
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 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after purchasing an additional 35 shares during the period. Sei Investments Co. boosted its holdings in Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after purchasing an additional 503 shares during the period. Advisor Group Inc. boosted its holdings in Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after purchasing an additional 68 shares during the period. Turner Investments LLC acquired a new position in shares of Globus Medical in the 2nd quarter valued at $166,000. Finally, Victory Capital Management Inc. raised its stake in shares of Globus Medical by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after buying an additional 808 shares in the last quarter. 65.59% of the stock is owned by hedge funds and other institutional investors.
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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