Globus Medical (NYSE:GMED)‘s stock had its “hold” rating restated by investment analysts at Oppenheimer in a research note issued on Tuesday.

Other research analysts also recently issued reports about the stock. UBS Group upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, February 28th. Cantor Fitzgerald restated a “buy” rating and set a $60.00 price objective on shares of Globus Medical in a research report on Friday, March 1st. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Morgan Stanley downgraded shares of Globus Medical from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $64.00 to $49.00 in a report on Wednesday, January 2nd. Finally, Zacks Investment Research downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.36.

Shares of GMED opened at $47.79 on Tuesday. Globus Medical has a one year low of $38.01 and a one year high of $57.83. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.38 and a beta of 0.86.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 21st. The medical device company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Globus Medical had a net margin of 21.95% and a return on equity of 15.22%. The business had revenue of $195.94 million during the quarter, compared to the consensus estimate of $195.50 million. Equities research analysts anticipate that Globus Medical will post 1.72 EPS for the current year.

In other news, Director James R. Tobin sold 8,900 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $47.10, for a total transaction of $419,190.00. Following the completion of the transaction, the director now directly owns 8,900 shares in the company, valued at $419,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anthony L. Williams sold 212,082 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.83, for a total transaction of $9,931,800.06. Following the transaction, the president now owns 89,583 shares of the company’s stock, valued at $4,195,171.89. The disclosure for this sale can be found here. Insiders have sold 423,852 shares of company stock valued at $19,916,004 over the last quarter. Company insiders own 28.44% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama grew its stake in shares of Globus Medical by 132.0% in the fourth quarter. Retirement Systems of Alabama now owns 219,732 shares of the medical device company’s stock worth $9,510,000 after purchasing an additional 125,021 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of Globus Medical by 56.0% in the third quarter. Glenmede Trust Co. NA now owns 5,187 shares of the medical device company’s stock worth $294,000 after purchasing an additional 1,862 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Globus Medical by 3.4% in the third quarter. Vanguard Group Inc now owns 6,735,494 shares of the medical device company’s stock worth $382,306,000 after purchasing an additional 219,780 shares during the last quarter. Securian Asset Management Inc boosted its position in Globus Medical by 3.5% during the fourth quarter. Securian Asset Management Inc now owns 9,285 shares of the medical device company’s stock valued at $402,000 after acquiring an additional 311 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Globus Medical by 3.4% during the third quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after acquiring an additional 219,780 shares during the last quarter. 68.22% of the stock is currently owned by institutional investors.

About Globus Medical

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.

See Also: Reverse Stock Split

Analyst Recommendations for Globus Medical (NYSE:GMED)

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