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

Globus Medical, Inc. (NYSE:GMED) has received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with 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 $96.91.

Several analysts recently commented on GMED shares. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Thursday. Roth Mkm raised their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders sold 97,500 shares of company stock worth $7,674,950 over the last ninety days. 18.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GMED. Coldstream Capital Management Inc. increased its position in Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the period. Stephens Inc. AR grew its position in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after purchasing an additional 140 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Globus Medical by 6.2% during the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after buying an additional 220 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Globus Medical by 1.5% in the second quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after buying an additional 228 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Up 0.6 %

Shares of NYSE:GMED opened at $87.09 on Friday. The firm’s 50 day moving average is $83.06 and its two-hundred day moving average is $75.22. The firm has a market capitalization of $11.86 billion, a P/E ratio of 129.99, a PEG ratio of 1.97 and a beta of 1.19. Globus Medical has a 52 week low of $49.33 and a 52 week high of $90.48.

Globus Medical (NYSE:GMED) last released its quarterly 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 net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period in the previous year, the firm earned $0.57 EPS. Globus Medical’s revenue was up 63.1% on a year-over-year basis. Analysts predict that Globus Medical will post 2.97 EPS for the current 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.