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

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

Several other equities analysts also recently commented on GMED. Wells Fargo & Company upped their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Morgan Stanley raised Globus Medical from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical has a consensus rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Stock Performance

NYSE:GMED traded down $0.22 during midday trading on Thursday, reaching $87.41. 804,136 shares of the stock traded hands, compared to its average volume of 1,305,521. The stock has a market capitalization of $11.90 billion, a P/E ratio of 130.46, a PEG ratio of 1.68 and a beta of 1.19. The company has a fifty day moving average of $86.56 and a 200 day moving average of $78.20. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93.

Insider Activity

In other news, SVP Kelly Huller sold 2,500 shares of the business'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 legal filing with the SEC, which can be accessed through 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. Company insiders own 18.54% of the company's stock.

Hedge Funds Weigh In On Globus Medical

Hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Globus Medical during the 4th quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical during the third quarter valued at approximately $27,000. Quarry LP increased its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after acquiring an additional 433 shares in the last quarter. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after acquiring an additional 206 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 385 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

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.