Globus Medical Inc (GMED) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Globus Medical Inc (NYSE:GMED) have received a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $30.25.
GMED has been the topic of a number of research reports. BidaskClub lowered Globus Medical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Canaccord Genuity set a $37.00 price objective on Globus Medical and gave the company a “buy” rating in a report on Thursday, May 18th. Zacks Investment Research upgraded Globus Medical from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Friday, May 5th. Morgan Stanley restated an “equal weight” rating on shares of Globus Medical in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. set a $32.00 price objective on Globus Medical and gave the company a “hold” rating in a report on Thursday, May 4th.
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 stock was sold at an average price of $31.94, for a total value of $515,926.82. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.21% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of GMED. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter worth about $114,000. Victory Capital Management Inc. increased its stake in shares of Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock worth $136,000 after buying an additional 830 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new stake in shares of Globus Medical during the first quarter worth about $138,000. LS Investment Advisors LLC increased its stake in shares of Globus Medical by 19.3% in the second quarter. LS Investment Advisors LLC now owns 6,152 shares of the medical device company’s stock worth $204,000 after buying an additional 995 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Globus Medical during the first quarter worth about $200,000. 69.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Globus Medical (NYSE:GMED) opened at 32.67 on Friday. The company has a market cap of $3.14 billion, a PE ratio of 29.97 and a beta of 0.62. Globus Medical has a 52-week low of $19.25 and a 52-week high of $34.03. The stock’s 50 day moving average is $32.75 and its 200 day moving average is $29.89.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, May 3rd. The medical device company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $155.81 million for the quarter. Globus Medical had a return on equity of 14.15% and a net margin of 18.09%. Equities analysts forecast that Globus Medical will post $1.27 EPS for the current year.
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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