Globus Medical (NYSE:GMED) Stock Rating Upgraded by StockNews.com

Globus Medical (NYSE:GMED - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.

Several other research analysts also recently weighed in on GMED. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. 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 research note on Friday, January 10th. BTIG Research upped their target price on shares of 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 target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Roth Mkm upped their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.82.

Globus Medical Stock Down 3.1 %

GMED opened at $71.20 on Thursday. Globus Medical has a 52-week low of $49.33 and a 52-week high of $94.93. The company has a 50 day moving average of $85.34 and a two-hundred day moving average of $79.76. The company has a market cap of $9.79 billion, a P/E ratio of 94.93, a P/E/G ratio of 1.61 and a beta of 1.19.

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Globus Medical (NYSE:GMED - Get Free Report) last released 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 net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. Research analysts anticipate that Globus Medical will post 3.44 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GMED. SBI Securities Co. Ltd. acquired a new position in shares of Globus Medical in the 4th quarter valued at about $27,000. Quarry LP boosted its holdings 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 period. Farther Finance Advisors LLC boosted its holdings in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after buying an additional 385 shares during the period. UMB Bank n.a. boosted its holdings in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after buying an additional 206 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in Globus Medical by 52.0% in the 4th 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 owned by institutional investors and hedge funds.

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.

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