Globus Medical (NYSE:GMED) Given Hold Rating at Needham & Company LLC

Globus Medical (NYSE:GMED - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Several other brokerages have also issued reports on GMED. BTIG Research lifted their price target on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Roth Mkm lifted 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. Canaccord Genuity Group increased their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Wells Fargo & Company increased their price objective on Globus Medical from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Performance

Shares of NYSE:GMED traded down $0.22 during midday trading on Thursday, hitting $87.41. 804,178 shares of the stock were exchanged, compared to its average volume of 1,317,153. The company has a market capitalization of $11.90 billion, a PE ratio of 130.46, a P/E/G ratio of 1.68 and a beta of 1.19. Globus Medical has a 52-week low of $49.33 and a 52-week high of $94.93. The business's fifty day simple moving average is $86.56 and its two-hundred day simple moving average is $78.20.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction 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 corporate insiders.

Institutional Trading of Globus Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new position in shares of Globus Medical in the 4th quarter worth $376,000. Kathmere Capital Management LLC acquired a new position in shares of Globus Medical during the 4th quarter worth about $23,091,000. Sanctuary Advisors LLC bought a new stake in shares of Globus Medical in the 2nd quarter valued at about $611,000. Quest Partners LLC bought a new position in Globus Medical during the 3rd quarter worth approximately $523,000. Finally, Intech Investment Management LLC increased its stake in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock valued at $1,469,000 after purchasing an additional 15,283 shares in the last quarter. 95.16% of the stock is currently 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.