Barclays Issues Positive Forecast for Globus Medical (NYSE:GMED) Stock Price

Globus Medical (NYSE:GMED) had its price objective raised by Barclays from $100.00 to $103.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the medical device company’s stock.

A number of other research analysts have also issued reports on GMED. Roth Mkm boosted their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Friday. Piper Sandler boosted their price objective on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Wells Fargo & Company reduced their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Trading Down 0.4 %

Shares of NYSE GMED opened at $80.00 on Monday. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 106.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The business has a 50 day simple moving average of $86.68 and a 200-day simple moving average of $79.20.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. As a group, equities analysts predict that Globus Medical will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Institutional Trading of Globus Medical

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the fourth quarter worth $27,000. Quarry LP raised its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC raised its position in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the period. UMB Bank n.a. raised its position in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after buying an additional 197 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Company Profile

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.