Globus Medical, Inc. (NYSE:GMED) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Globus Medical, Inc. (NYSE:GMED - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $77.78.

A number of analysts have weighed in on GMED shares. Morgan Stanley increased their price objective on Globus Medical from $67.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a report on Wednesday, August 7th. Wells Fargo & Company raised Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Barclays lifted their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price objective on Globus Medical from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th.

Insider Activity

In other news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares of the company's stock, valued at $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares in the company, valued at $40,242,076. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Globus Medical during the third quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical during the second quarter worth about $33,000. Farther Finance Advisors LLC lifted its stake 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 worth $39,000 after acquiring an additional 385 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company's stock worth $43,000 after acquiring an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Globus Medical in the second quarter worth about $52,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Up 0.1 %

NYSE:GMED traded up $0.09 during mid-day trading on Tuesday, reaching $74.29. 533,819 shares of the stock were exchanged, compared to its average volume of 988,496. The company has a 50 day simple moving average of $71.21 and a 200-day simple moving average of $67.07. The stock has a market capitalization of $10.06 billion, a P/E ratio of 115.94, a P/E/G ratio of 2.02 and a beta of 1.17. Globus Medical has a 1 year low of $43.38 and a 1 year high of $75.98.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. During the same quarter last year, the business posted $0.63 EPS. The firm's quarterly revenue was up 115.9% compared to the same quarter last year. As a group, research analysts predict that Globus Medical will post 2.84 EPS for the current year.

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.