Globus Medical Inc (GMED) Receives Average Recommendation of “Buy” from Brokerages

Globus Medical Inc (NYSE:GMED) has received an average rating of “Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $41.50.

Several equities research analysts have recently weighed in on GMED shares. Barclays 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 research report on Thursday, October 19th. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Globus Medical in a research report on Thursday, October 19th.

Shares of Globus Medical (NYSE GMED) opened at $43.06 on Friday. Globus Medical has a 52-week low of $25.67 and a 52-week high of $46.51. The firm has a market cap of $4,150.00, a P/E ratio of 39.15, a PEG ratio of 2.66 and a beta of 0.56.

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

In other Globus Medical news, Director David D. Davidar sold 55,383 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the transaction, the director now owns 752,236 shares in the company, valued at approximately $30,585,915.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Steven Payne sold 3,076 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.30, for a total transaction of $120,886.80. Following the transaction, the chief accounting officer now owns 23,847 shares in the company, valued at approximately $937,187.10. The disclosure for this sale can be found here. Insiders have sold 124,908 shares of company stock valued at $4,747,975 in the last three months. 28.21% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased 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 valued at $246,914,000 after purchasing an additional 61,138 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Globus Medical by 1.4% in the second quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock worth $189,355,000 after acquiring an additional 76,345 shares during the period. Janus Henderson Group PLC increased its stake in shares of Globus Medical by 18.6% in the third quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock worth $94,554,000 after acquiring an additional 498,187 shares during the period. State Street Corp increased its stake in shares of Globus Medical by 5.8% in the second quarter. State Street Corp now owns 2,376,667 shares of the medical device company’s stock worth $78,789,000 after acquiring an additional 129,939 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Globus Medical by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,843,340 shares of the medical device company’s stock worth $54,784,000 after acquiring an additional 32,034 shares during the period. Institutional investors and hedge funds own 70.24% of the company’s stock.

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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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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