StockNews.com Upgrades Globus Medical (NYSE:GMED) to Buy

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

A number of other equities research analysts have also recently issued reports on GMED. BTIG Research boosted their price objective on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Stifel Nicolaus upped their price target on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Piper Sandler upped their price target on Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Truist Financial upped their price target on Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price target on Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Globus Medical presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Stock Down 0.2 %

Globus Medical stock traded down $0.14 during midday trading on Friday, reaching $83.99. The stock had a trading volume of 671,673 shares, compared to its average volume of 1,363,054. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93. The firm's 50-day moving average price is $86.65 and its 200 day moving average price is $78.66. The firm has a market capitalization of $11.44 billion, a PE ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company'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 disclosure for this sale can be found here. 18.54% of the stock is owned by company insiders.

Institutional Trading of Globus Medical

Several hedge funds and other institutional investors have recently bought and sold shares of GMED. V Square Quantitative Management LLC purchased a new stake in Globus Medical in the third quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in Globus Medical in the fourth quarter worth approximately $27,000. Quarry LP boosted its stake in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC boosted 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 worth $39,000 after buying an additional 385 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Globus Medical by 60.2% during 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 period. Hedge funds and other institutional investors own 95.16% of the company's stock.

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.