Globus Medical, Inc. (NYSE:GMED) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $96.91.

A number of brokerages have recently issued reports on GMED. Stifel Nicolaus raised their price objective on Globus Medical from $80.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Wells Fargo & Company upped 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. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Thursday.

Insider Transactions at Globus Medical

In related 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 value of $217,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company's stock.

Institutional Investors Weigh In On Globus Medical

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Globus Medical by 1.5% in the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company's stock worth $1,044,000 after buying an additional 228 shares during the period. Creative Planning boosted its holdings in Globus Medical by 16.8% in the 2nd quarter. Creative Planning now owns 6,157 shares of the medical device company's stock worth $422,000 after buying an additional 886 shares during the period. Sanctuary Advisors LLC bought a new position in Globus Medical in the 2nd quarter worth approximately $611,000. Handelsbanken Fonder AB boosted its holdings in Globus Medical by 38.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 40,097 shares of the medical device company's stock worth $2,869,000 after buying an additional 11,200 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Globus Medical by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock worth $64,000 after buying an additional 257 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Trading Down 0.4 %

NYSE:GMED traded down $0.35 during trading hours on Thursday, hitting $87.60. 1,211,960 shares of the company were exchanged, compared to its average volume of 1,363,054. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 130.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical has a one year low of $49.33 and a one year high of $94.93. The company has a fifty day simple moving average of $86.56 and a 200 day simple moving average of $78.16.

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.