Globus Medical, Inc. (GMED) Receives “Buy” Rating from Gabelli
Globus Medical, Inc. (NYSE:GMED)‘s stock had its “buy” rating restated by analysts at Gabelli in a report issued on Tuesday. Gabelli also issued estimates for Globus Medical’s FY2019 earnings at $1.45 EPS.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Monday, September 4th. BidaskClub upgraded shares of Globus Medical from a “strong sell” rating to a “sell” rating in a report on Thursday, September 7th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, August 30th. Finally, Barclays PLC lowered their price target on shares of Globus Medical from $28.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.00.
Shares of Globus Medical (GMED) traded up $1.37 during trading on Tuesday, hitting $37.31. 1,316,100 shares of the stock were exchanged, compared to its average volume of 675,216. Globus Medical has a 12 month low of $20.52 and a 12 month high of $37.37. The stock has a market cap of $3,460.70, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.80 and a beta of 0.55.
In other news, insider A Brett Murphy sold 51,449 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the sale, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 28.21% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Globus Medical by 19.9% in the 2nd quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock worth $1,587,000 after buying an additional 7,937 shares during the period. Goldman Sachs Group Inc. grew its position in Globus Medical by 26.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 166,090 shares of the medical device company’s stock valued at $5,505,000 after purchasing an additional 34,513 shares during the last quarter. Vanguard Group Inc. grew its position in Globus Medical by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock valued at $189,355,000 after purchasing an additional 76,345 shares during the last quarter. AJO LP purchased a new stake in Globus Medical during the 2nd quarter valued at about $1,262,000. Finally, Schwab Charles Investment Management Inc. grew its position in Globus Medical by 5.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 292,401 shares of the medical device company’s stock valued at $8,661,000 after purchasing an additional 15,501 shares during the last quarter. 65.59% of the stock is currently owned by hedge funds and other institutional investors.
About Globus Medical
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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