Globus Medical, Inc. (NYSE:GMED)‘s stock had its “hold” rating reissued by stock analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Wednesday.

Several other research firms have also commented on GMED. BidaskClub raised Globus Medical from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Barclays PLC reissued a “sell” rating and set a $30.00 price target on shares of Globus Medical in a research report on Friday, May 5th. Finally, Canaccord Genuity raised Globus Medical from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.43.

Globus Medical (NYSE:GMED) traded up 2.93% on Wednesday, reaching $29.11. 535,061 shares of the company’s stock were exchanged. Globus Medical has a one year low of $19.25 and a one year high of $34.03. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 26.23 and a beta of 0.60. The firm has a 50 day moving average of $30.86 and a 200-day moving average of $30.39.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $152.39 million for the quarter, compared to analyst estimates of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. Globus Medical’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. Equities research analysts forecast that Globus Medical will post $1.27 EPS for the current fiscal year.

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In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 28.21% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Globus Medical by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after buying an additional 31 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after buying an additional 35 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Globus Medical by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after buying an additional 45 shares during the last quarter. Advisor Group Inc. raised its position in shares of Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after buying an additional 68 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its position in shares of Globus Medical by 1.2% in the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after buying an additional 130 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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