Globus Medical, Inc. (NYSE:GMED) Given Consensus Rating of "Moderate Buy" by Brokerages

Globus Medical, Inc. (NYSE:GMED - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $88.18.

Several equities analysts have commented on the stock. Bank of America increased their price target on shares of Globus Medical from $55.00 to $80.00 and gave the company an "underperform" rating in a research note on Wednesday, November 6th. Truist Financial boosted their price target on Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Canaccord Genuity Group raised their price objective on shares of Globus Medical from $79.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. BTIG Research upped their target price on Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Piper Sandler raised their price target on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock worth $8,512,850. Insiders own 18.54% of the company's stock.

Institutional Trading of Globus Medical

Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical in the 2nd quarter valued at $33,000. Quarry LP grew its position in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after buying an additional 433 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after purchasing an additional 385 shares during the period. Finally, GAMMA Investing LLC lifted its position in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company's stock worth $43,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Price Performance

NYSE GMED traded down $0.19 during midday trading on Friday, hitting $84.72. 966,796 shares of the company traded hands, compared to its average volume of 1,144,324. Globus Medical has a 52 week low of $44.02 and a 52 week high of $85.30. The company's 50-day simple moving average is $74.76 and its 200-day simple moving average is $70.69. The company has a market cap of $11.54 billion, a PE ratio of 126.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.17.

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, topping analysts' consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company's revenue was up 63.1% compared to the same quarter last year. On average, research analysts predict that Globus Medical will post 2.98 earnings per share for the current 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.