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

StockNews.com downgraded shares of Globus Medical (NYSE:GMED - Free Report) from a buy rating to a hold rating in a research report report published on Friday.

GMED has been the topic of a number of other reports. Truist Financial lowered their target price on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. BTIG Research increased their target price on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Morgan Stanley raised Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.09.

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Globus Medical Trading Up 3.3 %

Shares of GMED traded up $2.43 during mid-day trading on Friday, reaching $76.02. 1,439,675 shares of the stock traded hands, compared to its average volume of 996,029. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 101.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93. The firm has a fifty day moving average price of $83.61 and a 200 day moving average price of $79.83.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, sell-side analysts anticipate that Globus Medical will post 3.44 EPS for the current year.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction on Friday, January 10th. The shares were 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 can be accessed through the SEC website. 18.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Globus Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of Globus Medical in the 3rd quarter valued at approximately $523,000. Pathstone Holdings LLC increased its stake in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company's stock worth $2,934,000 after acquiring an additional 1,055 shares in the last quarter. Intech Investment Management LLC lifted its position in Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock valued at $1,469,000 after acquiring an additional 15,283 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Globus Medical during the third quarter worth about $26,406,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company's stock worth $88,610,000 after purchasing an additional 285,172 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.