Globus Medical, Inc. (NYSE:GMED – Get Rating) saw a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 4,750,000 shares, a drop of 5.6% from the December 15th total of 5,030,000 shares. Currently, 6.2% of the company’s stock are sold short. Based on an average daily volume of 588,800 shares, the days-to-cover ratio is presently 8.1 days.
Analyst Ratings Changes
Several research analysts have recently weighed in on GMED shares. Truist Financial upped their target price on shares of Globus Medical from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, December 20th. Jefferies Financial Group assumed coverage on Globus Medical in a research report on Wednesday, October 12th. They set a “buy” rating and a $75.00 target price on the stock. Barclays increased their price target on Globus Medical from $70.00 to $82.00 in a report on Wednesday, January 4th. Wells Fargo & Company lifted their price objective on Globus Medical from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. Finally, StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, December 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.
Insider Buying and Selling at Globus Medical
In other news, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $75.00, for a total value of $562,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.41% of the stock is currently owned by corporate insiders.
Institutional Trading of Globus Medical
Globus Medical Price Performance
GMED stock opened at $74.16 on Wednesday. The firm has a fifty day moving average price of $72.64 and a two-hundred day moving average price of $65.54. Globus Medical has a 1-year low of $52.60 and a 1-year high of $81.78. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 49.11, a PEG ratio of 2.84 and a beta of 1.02.
Globus Medical (NYSE:GMED – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The medical device company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Globus Medical had a return on equity of 11.59% and a net margin of 15.55%. The business had revenue of $254.15 million for the quarter, compared to analyst estimates of $252.94 million. As a group, analysts expect that Globus Medical will post 2.03 EPS for the current fiscal year.
Globus Medical Company Profile
Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.
- Get a free copy of the StockNews.com research report on Globus Medical (GMED)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab’s First U.S. Launch Send Stock Into Stratosphere?
- When Will Crane Holdings Take Flight?
Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.