Globus Medical, Inc. (NYSE:GMED) Receives $97.09 Consensus Target Price from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $97.09.

A number of research firms have recently weighed in on GMED. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Roth Mkm boosted 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. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently bought and sold shares of GMED. 111 Capital purchased a new position in shares of Globus Medical during the fourth quarter valued at $663,000. Wealth Enhancement Advisory Services LLC increased its position in Globus Medical by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,787 shares of the medical device company's stock valued at $479,000 after purchasing an additional 150 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Globus Medical during the 4th quarter valued at about $16,757,000. Polar Asset Management Partners Inc. raised its holdings in shares of Globus Medical by 73.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 452,274 shares of the medical device company's stock valued at $37,408,000 after purchasing an additional 191,700 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in shares of Globus Medical by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company's stock worth $216,544,000 after purchasing an additional 43,330 shares during the period. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Up 0.9 %

Globus Medical stock traded up $0.63 during midday trading on Friday, reaching $73.18. 1,083,727 shares of the stock traded hands, compared to its average volume of 1,024,681. The stock has a market cap of $10.07 billion, a P/E ratio of 97.57, a PEG ratio of 1.61 and a beta of 1.19. The stock's fifty day moving average is $81.78 and its 200-day moving average is $80.02. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (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 business had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. On average, equities analysts predict that Globus Medical will post 3.44 EPS 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.