Globus Medical, Inc. (NYSE:GMED) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $88.18.

GMED has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Roth Mkm restated a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a research report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Finally, Truist Financial upped their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,512,850 over the last ninety days. 18.54% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

Several large investors have recently bought and sold shares of GMED. V Square Quantitative Management LLC acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter valued at $33,000. Quarry LP raised its holdings in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $84.72 on Friday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 126.45, a PEG ratio of 1.99 and a beta of 1.17. Globus Medical has a one year low of $44.02 and a one year high of $85.30. The business’s fifty day moving average is $74.76 and its 200-day moving average is $70.69.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. Research analysts expect that Globus Medical will post 2.98 EPS for the current fiscal year.

About Globus Medical

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