Globus Medical, Inc. (NYSE:GMED) Given Consensus Recommendation of “Buy” by Brokerages


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Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average rating of “Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $65.75.

Several brokerages recently issued reports on GMED. BTIG Research increased their price target on Globus Medical from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, February 18th. Piper Sandler increased their price target on Globus Medical from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 29th. Morgan Stanley increased their price target on Globus Medical from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Credit Suisse Group increased their price target on Globus Medical from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, January 8th. Finally, Needham & Company LLC increased their price target on Globus Medical from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 25th.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Globus Medical by 2.8% during the fourth quarter. BlackRock Inc. now owns 7,405,902 shares of the medical device company’s stock worth $483,013,000 after purchasing an additional 204,321 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Globus Medical by 1.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,441,759 shares of the medical device company’s stock worth $420,132,000 after purchasing an additional 86,833 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Globus Medical by 4.7% during the fourth quarter. GW&K Investment Management LLC now owns 1,420,364 shares of the medical device company’s stock worth $92,636,000 after purchasing an additional 63,285 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Globus Medical by 1.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 879,225 shares of the medical device company’s stock worth $57,343,000 after purchasing an additional 13,115 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Globus Medical by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 819,094 shares of the medical device company’s stock worth $53,420,000 after purchasing an additional 15,101 shares during the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of GMED opened at $64.40 on Thursday. The firm has a market capitalization of $6.43 billion, a P/E ratio of 70.00, a price-to-earnings-growth ratio of 2.89 and a beta of 1.02. The stock’s fifty day simple moving average is $62.15 and its 200 day simple moving average is $59.95. Globus Medical has a twelve month low of $42.85 and a twelve month high of $68.24.

Globus Medical (NYSE:GMED) last issued its earnings results on Tuesday, February 16th. The medical device company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.07. Globus Medical had a return on equity of 9.85% and a net margin of 12.36%. The business had revenue of $233.45 million for the quarter, compared to analyst estimates of $234.25 million. On average, equities research analysts forecast that Globus Medical will post 1.36 EPS for the current year.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders. Its offers spine products, such as consists of traditional fusion implants, such as pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative, deformity, tumors, and trauma conditions; treatment options for motion preservation technologies, such as dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional pain management solutions to treat vertebral compression fractures; and regenerative biologic products, comprising of allografts and synthetic alternatives.

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Analyst Recommendations for Globus Medical (NYSE:GMED)

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