Globus Medical (NYSE: GMED) has recently received a number of price target changes and ratings updates:

  • 9/7/2017 – Globus Medical was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/7/2017 – Globus Medical is now covered by analysts at BTIG Research. They set a “buy” rating and a $37.00 price target on the stock.
  • 9/4/2017 – Globus Medical was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “
  • 8/30/2017 – Globus Medical had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 8/29/2017 – Globus Medical was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “
  • 8/26/2017 – Globus Medical was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/18/2017 – Globus Medical had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $37.00 price target on the stock.
  • 8/9/2017 – Globus Medical had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $28.00 price target on the stock, down previously from $30.00.
  • 8/4/2017 – Globus Medical had its “buy” rating reaffirmed by analysts at Gabelli.
  • 8/4/2017 – Globus Medical was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “
  • 8/3/2017 – Globus Medical was given a new $35.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “hold” rating on the stock.
  • 8/3/2017 – Globus Medical had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $28.00 price target on the stock, down previously from $30.00. They wrote, “ELGX’s 2Q17 sales of $48.6M (-4.7%) came in ahead of our/consensus estimates of $47.6M; higher OUS sales offset lighter US results impacted by sales force attrition and lower AFX2 sales recapture. Ovation growth remained strong. Net loss was better on higher sales, better GM, and lower opex. ELGX lowered FY17 guidance by $9M at the midpoint to $185-190M on lower AFX2 sales recapture and sales force attrition. ELGX expects to begin PMA enrollment for Gen2 Nellix in late 2017/early 2018. We expect a slight uptick in 2H17 sales as AFX2 US softness continues, offset by Ovation US growth. We assume higher growth in ’18 versus ’17 on easier ’17 comps from both AFX manufacturing issues and the narrowed Nellix IFU.””
  • 8/2/2017 – Globus Medical was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/12/2017 – Globus Medical was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “
  • 7/11/2017 – Globus Medical was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/11/2017 – Globus Medical had its “equal weight” rating reaffirmed by analysts at Morgan Stanley.

Shares of Globus Medical, Inc. (NYSE GMED) opened at 30.13 on Friday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 27.14 and a beta of 0.60. Globus Medical, Inc. has a one year low of $19.25 and a one year high of $34.03. The stock has a 50 day moving average price of $30.27 and a 200-day moving average price of $30.58.

Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $152.39 million during the quarter, compared to the consensus estimate of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts expect that Globus Medical, Inc. will post $1.27 EPS for the current year.

In other news, insider A Brett Murphy sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total value of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 28.21% of the company’s stock.

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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