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

Shares of Globus Medical, Inc. (NYSE:GMED) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $77.20.

Several analysts have recently commented on GMED shares. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Royal Bank of Canada raised their target price on Globus Medical from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Barclays raised their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Finally, Truist Financial raised their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred 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 transaction, the director now owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the director now owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Hedge funds have recently modified their holdings of the stock. Vestal Point Capital LP bought a new stake in shares of Globus Medical in the 4th quarter worth approximately $42,632,000. Leeward Investments LLC MA raised its holdings in Globus Medical by 27.6% during the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after acquiring an additional 48,047 shares during the period. Van ECK Associates Corp raised its holdings in Globus Medical by 33.0% during the 1st quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock valued at $2,453,000 after acquiring an additional 11,359 shares during the period. Swedbank AB raised its holdings in Globus Medical by 15.4% during the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after acquiring an additional 50,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Globus Medical by 17.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after acquiring an additional 172,605 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.1 %

Shares of Globus Medical stock opened at $70.03 on Friday. The business has a 50-day moving average price of $70.54 and a two-hundred day moving average price of $64.51. Globus Medical has a 1-year low of $43.38 and a 1-year high of $74.21. The company has a market cap of $9.48 billion, a P/E ratio of 109.42, a PEG ratio of 1.97 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same period last year, the business posted $0.63 EPS. The business’s revenue was up 115.9% compared to the same quarter last year. Equities research analysts forecast that Globus Medical will post 2.84 EPS for the current fiscal year.

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.