Globus Medical, Inc. (NYSE:GMED) Given Consensus Recommendation of “Moderate Buy” by Analysts

Globus Medical, Inc. (NYSE:GMED) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $88.18.

A number of analysts recently issued reports on GMED shares. BTIG Research raised their target price on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Bank of America increased their target price on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 6th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Truist Financial upped their price objective on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now owns 42,884 shares in the company, valued at $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $8,512,850 over the last three months. 18.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in Globus Medical in the 3rd quarter valued at about $3,833,000. Synovus Financial Corp boosted its holdings in Globus Medical by 9.8% in the third quarter. Synovus Financial Corp now owns 14,311 shares of the medical device company’s stock valued at $1,024,000 after purchasing an additional 1,281 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in Globus Medical by 11.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,470 shares of the medical device company’s stock valued at $1,035,000 after purchasing an additional 1,470 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Globus Medical by 33.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,945 shares of the medical device company’s stock valued at $855,000 after purchasing an additional 3,022 shares in the last quarter. Finally, TT International Asset Management LTD purchased a new stake in Globus Medical during the 3rd quarter worth approximately $3,169,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $85.61 on Friday. The business’s fifty day moving average price is $76.26 and its two-hundred day moving average price is $71.52. The stock has a market cap of $11.66 billion, a PE ratio of 127.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.17. Globus Medical has a one year low of $44.02 and a one year high of $86.00.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The firm had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities research analysts predict that Globus Medical will post 2.98 earnings per share for the current fiscal 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.