Globus Medical (NYSE:GMED) Lowered to Hold Rating by StockNews.com

Globus Medical (NYSE:GMED) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently issued reports on the stock. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus upped their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company dropped their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Barclays lifted their price target on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Stock Up 0.7 %

NYSE GMED opened at $73.86 on Friday. The stock’s 50-day simple moving average is $83.88 and its two-hundred day simple moving average is $79.71. 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 $10.16 billion, a price-to-earnings ratio of 98.48, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data 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. The company had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, equities analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 18.54% of the stock is owned by corporate insiders.

Institutional Trading of Globus Medical

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical in the 4th quarter valued at approximately $27,000. Quarry LP raised its holdings in Globus Medical by 698.4% in 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 in the last quarter. UMB Bank n.a. lifted its position in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares during the period. V Square Quantitative Management LLC boosted its stake 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 worth $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the period. 95.16% of the stock is owned by institutional investors.

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.