Globus Medical Inc (GMED) Given Consensus Recommendation of “Buy” by Brokerages

Globus Medical Inc (NYSE:GMED) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $41.50.

A number of brokerages have recently commented on GMED. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Globus Medical in a research note on Wednesday, January 10th. Barclays reaffirmed a “sell” rating and issued a $36.00 price target on shares of Globus Medical in a research note on Wednesday, January 10th. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Tuesday, January 2nd. Finally, BTIG Research set a $45.00 price target on Globus Medical and gave the company a “buy” rating in a research note on Tuesday, January 2nd.

In related news, President Anthony L. Williams sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $38.30, for a total value of $574,500.00. Following the completion of the transaction, the president now directly owns 15,000 shares in the company, valued at approximately $574,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Steven Payne sold 3,076 shares of the business’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 value of $120,886.80. Following the completion of the transaction, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The disclosure for this sale can be found here. Insiders sold a total of 73,459 shares of company stock valued at $2,947,260 over the last quarter. 28.21% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted 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 worth $5,505,000 after acquiring an additional 34,513 shares during the last quarter. Retirement Systems of Alabama boosted its position in Globus Medical by 45.6% during the 3rd quarter. Retirement Systems of Alabama now owns 135,562 shares of the medical device company’s stock worth $4,029,000 after acquiring an additional 42,481 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $189,355,000 after acquiring an additional 76,345 shares during the last quarter. Rhumbline Advisers boosted its position in Globus Medical by 7.4% during the 3rd quarter. Rhumbline Advisers now owns 154,127 shares of the medical device company’s stock worth $4,581,000 after acquiring an additional 10,679 shares during the last quarter. Finally, Atlantic Trust Group LLC acquired a new position in Globus Medical during the 3rd quarter worth approximately $1,110,000. Institutional investors and hedge funds own 69.67% of the company’s stock.

Shares of Globus Medical (GMED) opened at $45.06 on Tuesday. The company has a market capitalization of $4,245.36, a PE ratio of 40.96, a PEG ratio of 2.58 and a beta of 0.48. Globus Medical has a 52 week low of $26.53 and a 52 week high of $47.09.

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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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