Globus Medical (GMED) Downgraded by ValuEngine

Globus Medical (NYSE:GMED) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also weighed in on the company. BTIG Research set a $42.00 price objective on Globus Medical and gave the company a “buy” rating in a research note on Monday, November 20th. Gabelli reiterated a “buy” rating on shares of Globus Medical in a research note on Tuesday, November 14th. BidaskClub upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $35.00.

Globus Medical (NYSE GMED) traded down $0.39 during midday trading on Friday, hitting $37.62. The company had a trading volume of 656,219 shares, compared to its average volume of 873,594. Globus Medical has a fifty-two week low of $21.64 and a fifty-two week high of $38.85. The firm has a market cap of $3,625.67, a PE ratio of 30.10, a PEG ratio of 2.93 and a beta of 0.57.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. equities analysts anticipate that Globus Medical will post 1.27 EPS for the current year.

In other Globus Medical news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $35.00, for a total value of $1,800,715.00. Following the transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 28.21% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Globus Medical by 0.8% during the 2nd quarter. BlackRock Inc. now owns 7,448,420 shares of the medical device company’s stock worth $246,914,000 after buying an additional 61,138 shares during the period. Vanguard Group Inc. raised its stake 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 worth $189,355,000 after buying an additional 76,345 shares during the period. Janus Henderson Group PLC raised its stake in Globus Medical by 18.6% during the 3rd quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock worth $94,554,000 after buying an additional 498,187 shares during the period. State Street Corp raised its stake in Globus Medical by 5.8% during the 2nd quarter. State Street Corp now owns 2,376,667 shares of the medical device company’s stock worth $78,789,000 after buying an additional 129,939 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Globus Medical by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,843,340 shares of the medical device company’s stock worth $54,784,000 after buying an additional 32,034 shares during the period. 72.20% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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