Analysts Set Globus Medical, Inc. (NYSE:GMED) PT at $93.55

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $94.55.

Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Stifel Nicolaus upped their price target on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. 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 report on Tuesday. Finally, Canaccord Genuity Group upped their target price on Globus Medical from $85.00 to $92.00 and gave the company a "buy" rating in a report on Monday, December 9th.

Insider Activity at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,500 shares of company stock worth $7,674,950. Corporate insiders own 18.54% of the company's stock.

Institutional Investors Weigh In On Globus Medical

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Globus Medical by 2.3% in the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company's stock worth $255,450,000 after buying an additional 81,371 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Globus Medical by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company's stock worth $172,245,000 after buying an additional 35,054 shares in the last quarter. Geode Capital Management LLC grew its position in Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock valued at $134,893,000 after buying an additional 21,935 shares during the period. Magnetar Financial LLC increased its holdings in Globus Medical by 1.7% in the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company's stock valued at $117,699,000 after buying an additional 29,200 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company's stock worth $114,330,000 after acquiring an additional 18,117 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Down 2.0 %

Shares of GMED stock traded down $1.64 on Wednesday, reaching $81.78. The stock had a trading volume of 1,347,038 shares, compared to its average volume of 995,014. Globus Medical has a 12 month low of $49.33 and a 12 month high of $87.22. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 122.06, a P/E/G ratio of 1.99 and a beta of 1.19. The firm's 50-day moving average is $79.31 and its two-hundred day moving average is $73.10.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. During the same period in the prior year, the firm earned $0.57 earnings per share. The company's revenue was up 63.1% on a year-over-year basis. On average, sell-side analysts forecast that Globus Medical will post 2.97 earnings per share 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.