Globus Medical (NYSE:GMED) Rating Lowered to Hold at StockNews.com

Globus Medical (NYSE:GMED - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Wednesday.

A number of other equities research analysts have also recently commented on GMED. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Friday, February 21st. Finally, Royal Bank of Canada boosted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.82.

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Globus Medical Stock Up 1.5 %

GMED traded up $1.17 on Wednesday, reaching $77.48. The company had a trading volume of 1,230,429 shares, compared to its average volume of 1,275,017. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market capitalization of $10.66 billion, a PE ratio of 103.31, a P/E/G ratio of 1.61 and a beta of 1.19. The stock has a 50-day moving average price of $85.90 and a 200-day moving average price of $79.70.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. As a group, analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMED. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $27,000. Quarry LP grew its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of 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 last quarter. UMB Bank n.a. grew its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after purchasing an additional 197 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.