Globus Medical (NYSE:GMED) Issues Earnings Results

Globus Medical (NYSE:GMED) posted its earnings results on Thursday. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10, Zacks reports. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%.

Globus Medical Trading Up 0.1 %

Shares of GMED opened at $84.22 on Friday. The business’s 50-day moving average price is $86.76 and its 200 day moving average price is $78.94. The stock has a market capitalization of $11.47 billion, a P/E ratio of 125.69, a P/E/G ratio of 1.60 and a beta of 1.19. Globus Medical has a 1-year low of $49.33 and a 1-year high of $94.93.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was 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 SEC, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GMED shares. Truist Financial lifted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. BTIG Research lifted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Bank of America upgraded shares of 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 research note on Thursday, January 9th. Piper Sandler lifted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.91.

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.