Globus Medical Rating Lowered to Neutral at Zacks (GMED)
Globus Medical (NASDAQ:GMED) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They currently have a $27.50 price target on the stock. Zacks‘s target price suggests a potential upside of 14.06% from the company’s current price.
Separately, analysts at Canaccord Genuity cut their price target on shares of Globus Medical from $28.00 to $27.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.92.
Globus Medical (NASDAQ:GMED) traded up 0.79% during mid-day trading on Tuesday, hitting $24.11. The stock had a trading volume of 376,816 shares. Globus Medical has a one year low of $16.29 and a one year high of $27.14. The stock’s 50-day moving average is $24.10 and its 200-day moving average is $23.56. The company has a market cap of $2.268 billion and a P/E ratio of 32.28.
Globus Medical (NASDAQ:GMED) last released its earnings data on Tuesday, April 29th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.02. The company had revenue of $114.20 million for the quarter, compared to the consensus estimate of $113.59 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Globus Medical will post $0.94 EPS for the current fiscal year.
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.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.