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

Shares of Globus Medical, Inc. (NYSE:GMED) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $93.55.

A number of research analysts have recently issued reports on the company. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Stifel Nicolaus raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th.

Insider Activity

In related news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David D. Davidar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,500 shares of company stock worth $7,674,950 over the last quarter. Corporate insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Globus Medical by 12.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,497 shares of the medical device company’s stock valued at $376,000 after purchasing an additional 609 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Globus Medical by 5.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,017 shares of the medical device company’s stock worth $481,000 after acquiring an additional 390 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Globus Medical during the second quarter valued at approximately $3,593,000. Raymond James & Associates raised its holdings in Globus Medical by 14.7% in the second quarter. Raymond James & Associates now owns 275,945 shares of the medical device company’s stock worth $18,899,000 after purchasing an additional 35,402 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Globus Medical by 15.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after buying an additional 160 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Up 2.1 %

NYSE:GMED opened at $83.42 on Wednesday. Globus Medical has a twelve month low of $49.14 and a twelve month high of $87.22. The company has a market cap of $11.36 billion, a PE ratio of 124.51, a P/E/G ratio of 1.99 and a beta of 1.19. The company’s 50 day moving average is $79.31 and its two-hundred day moving average is $73.10.

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 firm had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. The company’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, analysts expect that Globus Medical will post 2.97 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.