Globus Medical Inc (NYSE:GMED) – Research analysts at Leerink Swann upped their FY2017 earnings estimates for shares of Globus Medical in a research report issued on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical device company will post earnings of $1.29 per share for the year, up from their prior estimate of $1.27. Leerink Swann also issued estimates for Globus Medical’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.37 EPS.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays restated a “sell” rating and set a $36.00 target price on shares of Globus Medical in a research note on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Globus Medical in a research note on Wednesday, January 10th. BTIG Research set a $45.00 target price on Globus Medical and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $40.57.

Shares of Globus Medical (GMED) opened at $43.66 on Monday. The firm has a market capitalization of $4,207.78, a PE ratio of 39.69, a PEG ratio of 2.92 and a beta of 0.56. Globus Medical has a 52 week low of $25.67 and a 52 week high of $46.51.

In other news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the transaction, the insider now owns 49,768 shares of the company’s stock, valued at $1,741,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David D. Davidar sold 55,383 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the transaction, the director now directly owns 752,236 shares in the company, valued at approximately $30,585,915.76. The disclosure for this sale can be found here. Insiders have sold 124,908 shares of company stock worth $4,747,975 in the last ninety days. Corporate insiders own 28.21% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Globus Medical by 260.0% in the second quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock worth $88,952,000 after acquiring an additional 1,938,039 shares during the last quarter. NWQ Investment Management Company LLC bought a new position in Globus Medical in the third quarter worth about $25,856,000. American Century Companies Inc. bought a new position in Globus Medical in the third quarter worth about $24,126,000. Nuance Investments LLC lifted its holdings in Globus Medical by 207.5% in the third quarter. Nuance Investments LLC now owns 776,919 shares of the medical device company’s stock worth $23,090,000 after acquiring an additional 524,248 shares during the last quarter. Finally, Koch Industries Inc. lifted its holdings in Globus Medical by 3,950.6% in the second quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock worth $465,000 after acquiring an additional 467,595 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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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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