Globus Medical, Inc. (NYSE:GMED) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $97.09.

Several research firms have recently weighed in on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Truist Financial cut their price target on Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Insider Activity at Globus Medical

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

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently modified their holdings of GMED. Charles Schwab Investment Management Inc. lifted its stake in shares of Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after buying an additional 285,172 shares during the period. Raymond James Trust N.A. acquired a new stake in Globus Medical during the 3rd quarter worth about $205,000. Cerity Partners LLC lifted its position in Globus Medical by 25.9% during the 3rd quarter. Cerity Partners LLC now owns 45,750 shares of the medical device company’s stock worth $3,273,000 after acquiring an additional 9,404 shares during the period. Bank of Montreal Can grew its stake in Globus Medical by 1,142.4% during the 3rd quarter. Bank of Montreal Can now owns 231,323 shares of the medical device company’s stock valued at $16,334,000 after purchasing an additional 212,704 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Globus Medical in the third quarter valued at about $2,709,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE GMED opened at $73.66 on Friday. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93. The firm has a 50-day simple moving average of $82.50 and a two-hundred day simple moving average of $79.83. The company has a market cap of $10.13 billion, a P/E ratio of 98.22, a PEG ratio of 1.61 and a beta of 1.19.

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