Globus Medical, Inc. (GMED) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Globus Medical, Inc. (NYSE:GMED) from a buy rating to a hold rating in a research report report published on Friday, May 12th.

According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “

Several other research analysts also recently commented on the stock. Oppenheimer Holdings, Inc. set a $32.00 target price on shares of Globus Medical and gave the stock a hold rating in a report on Thursday, May 4th. Barclays PLC reiterated a sell rating and issued a $30.00 target price on shares of Globus Medical in a report on Friday, May 5th. Canaccord Genuity upgraded shares of Globus Medical from a hold rating to a buy rating and raised their price target for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. Leerink Swann upgraded shares of Globus Medical from a market perform rating to an outperform rating in a research report on Wednesday, April 12th. Finally, Aegis restated a buy rating and issued a $31.00 price target on shares of Globus Medical in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $28.90.

Shares of Globus Medical (GMED) traded up 0.73% during trading on Friday, reaching $32.95. The company’s stock had a trading volume of 691,462 shares. The company has a 50 day moving average price of $31.46 and a 200 day moving average price of $28.13. Globus Medical has a 52 week low of $19.25 and a 52 week high of $33.11. The firm has a market capitalization of $3.17 billion, a P/E ratio of 30.23 and a beta of 0.63.

Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, May 3rd. The medical device company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 18.09% and a return on equity of 14.15%. The firm had revenue of $155.81 million during the quarter. On average, equities research analysts expect that Globus Medical will post $1.27 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.com-unik.info/2017/06/17/globus-medical-inc-gmed-cut-to-hold-at-zacks-investment-research-updated-updated-updated.html.

In related news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $31.94, for a total transaction of $515,926.82. Following the sale, the president now directly owns 16,153 shares in the company, valued at approximately $515,926.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 28.21% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in GMED. Consonance Capital Management LP bought a new stake in Globus Medical during the third quarter valued at $41,980,000. Convergence Investment Partners LLC bought a new stake in Globus Medical during the third quarter valued at $416,000. Acrospire Investment Management LLC increased its stake in Globus Medical by 31.7% in the third quarter. Acrospire Investment Management LLC now owns 5,400 shares of the medical device company’s stock valued at $122,000 after buying an additional 1,300 shares during the last quarter. California State Teachers Retirement System increased its stake in Globus Medical by 1.0% in the third quarter. California State Teachers Retirement System now owns 148,336 shares of the medical device company’s stock valued at $3,348,000 after buying an additional 1,400 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Globus Medical by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,807,968 shares of the medical device company’s stock valued at $40,806,000 after buying an additional 45,026 shares during the last quarter. Institutional investors own 68.95% of the company’s stock.

About Globus Medical

Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.

Get a free copy of the Zacks research report on Globus Medical (GMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Globus Medical Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Globus Medical Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit