Globus Medical, Inc. (NYSE:GMED)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research note issued on Tuesday.

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Globus Medical in a research note on Thursday, May 18th. Canaccord Genuity set a $37.00 price target on shares of Globus Medical and gave the stock a “buy” rating in a research note on Thursday, May 18th. Finally, Barclays PLC restated a “sell” rating and set a $30.00 price target on shares of Globus Medical in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.89.

Globus Medical (NYSE GMED) opened at 31.91 on Tuesday. The firm has a market cap of $3.07 billion, a P/E ratio of 29.28 and a beta of 0.62. The stock has a 50 day moving average price of $32.08 and a 200 day moving average price of $28.83. Globus Medical has a 52-week low of $19.25 and a 52-week high of $34.03.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Wednesday, May 3rd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.09% and a return on equity of 14.15%. The company had revenue of $155.81 million during the quarter. Equities analysts predict that Globus Medical will post $1.27 earnings per share for the current fiscal year.

WARNING: “Globus Medical, Inc. (GMED) Earns “Equal Weight” Rating from Morgan Stanley” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/07/11/morgan-stanley-reiterates-equal-weight-rating-for-globus-medical-inc-nysegmed.html.

In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the completion of the transaction, the president now directly owns 16,153 shares of the company’s stock, valued at approximately $515,926.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.21% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GMED. Russell Investments Group Ltd. purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $3,731,000. Comerica Bank purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $1,472,000. State Street Corp increased its position in shares of Globus Medical by 73.8% in the fourth quarter. State Street Corp now owns 2,169,124 shares of the medical device company’s stock valued at $53,813,000 after buying an additional 920,880 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Globus Medical during the fourth quarter valued at approximately $264,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Globus Medical by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,786,939 shares of the medical device company’s stock valued at $44,334,000 after buying an additional 168,849 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.