Globus Medical, Inc. (GMED) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Globus Medical, Inc. (NYSE:GMED) have been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.40.
GMED has been the subject of several research analyst reports. Barclays PLC reiterated an “underweight” rating and issued a $28.00 price objective (down from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. BidaskClub lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research report on Friday, August 4th. Morgan Stanley reiterated an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Finally, Zacks Investment Research lowered Globus Medical from a “hold” rating to a “sell” rating in a research report on Friday, August 4th.
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In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total value of $449,850.00. Following the sale, the insider now owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 28.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after acquiring an additional 35 shares in the last quarter. Sei Investments Co. lifted its stake in Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after acquiring an additional 503 shares in the last quarter. Advisor Group Inc. lifted its stake in Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 68 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Globus Medical by 22.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock valued at $136,000 after acquiring an additional 830 shares in the last quarter. Finally, Turner Investments LLC bought a new stake in Globus Medical in the 2nd quarter valued at approximately $166,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.
Globus Medical (GMED) opened at 29.69 on Wednesday. The company has a 50-day moving average of $29.93 and a 200-day moving average of $30.90. Globus Medical has a 12 month low of $19.25 and a 12 month high of $34.03. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 26.75 and a beta of 0.56.
Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The business had revenue of $152.39 million during the quarter, compared to analyst estimates of $150.94 million. During the same period in the previous year, the firm earned $0.29 EPS. Globus Medical’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts predict that Globus Medical will post $1.26 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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