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

Shares of Globus Medical, Inc. (NYSE:GMED) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Three 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 analysts that have issued a report on the stock in the last year is $97.09.

Several analysts recently weighed in on GMED shares. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. BTIG Research upped their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Truist Financial cut their price objective on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Barclays upped their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

Globus Medical Price Performance

Globus Medical stock opened at $73.33 on Friday. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 97.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The firm has a 50-day moving average of $81.40 and a two-hundred day moving average of $80.05. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Research analysts expect that Globus Medical will post 3.44 earnings per share for the current year.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Globus Medical during the 4th quarter valued at approximately $27,000. Quarry LP raised its holdings in shares of Globus Medical by 698.4% during 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 during the last quarter. UMB Bank n.a. raised its holdings in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. V Square Quantitative Management LLC lifted its position 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 valued at $48,000 after purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. boosted 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 valued at $55,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.