Globus Medical PT Raised to $28.00 (GMED)
Canaccord Genuity increased their price objective on shares of Globus Medical (NASDAQ:GMED) from $26.00 to $28.00 in a research note issued on Wednesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 22.38% from the company’s current price.
In other Globus Medical news, COO David Demski unloaded 96,813 shares of the stock on the open market in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $20.51, for a total value of $1,985,634.63. Following the sale, the chief operating officer now directly owns 381,365 shares in the company, valued at approximately $7,821,796. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Globus Medical (NASDAQ:GMED) traded up 0.44% during mid-day trading on Wednesday, hitting $22.98. The stock had a trading volume of 145,197 shares. Globus Medical has a 52-week low of $12.27 and a 52-week high of $23.13. The stock’s 50-day moving average is $19.98 and its 200-day moving average is $18.23. The company has a market cap of $2.143 billion and a P/E ratio of 31.39.
Globus Medical (NASDAQ:GMED) last announced its earnings results on Wednesday, October 30th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.03. The company had revenue of $107.19 million for the quarter, compared to the consensus estimate of $106.00 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that Globus Medical will post $0.85 earnings per share for the current fiscal year.
Separately, analysts at Piper Jaffray raised their price target on shares of Globus Medical from $22.00 to $25.00 in a research note to investors on Thursday, October 31st. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.80.
Globus Medical, Inc (NASDAQ:GMED) is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders.
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