Globus Medical (NYSE:GMED) Price Target Raised to $94.00 at Stifel Nicolaus

Globus Medical (NYSE:GMED - Get Free Report) had its target price hoisted by investment analysts at Stifel Nicolaus from $92.00 to $94.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the medical device company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 16.87% from the company's previous close.

A number of other analysts have also recently issued reports on the stock. Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lowered their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Friday. Finally, Truist Financial lifted their target price on Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.91.

Globus Medical Trading Down 4.4 %

NYSE GMED traded down $3.69 during trading hours on Friday, hitting $80.43. 3,350,766 shares of the company's stock traded hands, compared to its average volume of 1,092,088. The business's fifty day moving average price is $86.72 and its two-hundred day moving average price is $79.10. The firm has a market capitalization of $10.95 billion, a P/E ratio of 107.24, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93.

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

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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. Corporate insiders own 18.54% of the company's stock.

Hedge Funds Weigh In On Globus Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical in the 4th quarter worth approximately $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 worth $35,000 after purchasing 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 worth $39,000 after purchasing an additional 385 shares during the period. UMB Bank n.a. boosted its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after acquiring an additional 206 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after acquiring an additional 197 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.