Equities research analysts at BTIG Research began coverage on shares of Globus Medical, Inc. (NYSE:GMED) in a report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $37.00 price target on the medical device company’s stock. BTIG Research’s price objective indicates a potential upside of 23.25% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity set a $37.00 target price on shares of Globus Medical and gave the stock a “buy” rating in a report on Thursday, May 18th. Barclays PLC reiterated a “sell” rating and issued a $30.00 target price on shares of Globus Medical in a report on Monday, May 15th. BidaskClub upgraded shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Globus Medical in a report on Thursday, May 18th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.25.

Shares of Globus Medical (NYSE GMED) traded up 0.43% on Thursday, reaching $30.15. The company had a trading volume of 147,481 shares. Globus Medical has a 52 week low of $19.25 and a 52 week high of $34.03. The company has a market capitalization of $2.90 billion, a P/E ratio of 27.16 and a beta of 0.60. The company has a 50 day moving average of $30.33 and a 200-day moving average of $30.58.

Globus Medical (NYSE:GMED) last announced its 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 the consensus estimate of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Analysts predict that Globus Medical will post $1.27 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. Broadfin Capital LLC bought a new position in shares of Globus Medical during the 2nd quarter worth about $2,211,000. Koch Industries Inc. increased its holdings in shares of Globus Medical by 3,950.6% during the 2nd quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock worth $465,000 after purchasing an additional 467,595 shares during the period. 1st Global Advisors Inc. increased its holdings in shares of Globus Medical by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after purchasing an additional 130 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Globus Medical by 453.3% during the 2nd quarter. Susquehanna International Group LLP now owns 41,870 shares of the medical device company’s stock worth $1,388,000 after purchasing an additional 53,721 shares during the period. Finally, Bank of Nova Scotia bought a new position in shares of Globus Medical during the 2nd quarter worth about $2,283,000. Institutional investors own 65.80% of the company’s stock.

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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