Globus Medical, Inc. (NYSE:GMED) Receives $88.18 Average PT from Analysts

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

A number of analysts have commented on the stock. Barclays increased their price target on shares of Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Stifel Nicolaus raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and set a $100.00 target price on shares of Globus Medical in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, BTIG Research raised their price target on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th.

Insiders Place Their Bets

In related news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated 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 directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globus Medical

Several hedge funds and other institutional investors have recently modified their holdings of GMED. Gamco Investors INC. ET AL increased its holdings in Globus Medical by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 139,320 shares of the medical device company’s stock worth $7,473,000 after purchasing an additional 616 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Globus Medical by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,151,660 shares of the medical device company’s stock worth $61,776,000 after acquiring an additional 81,944 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Globus Medical by 2,272.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 311,285 shares of the medical device company’s stock worth $16,697,000 after acquiring an additional 298,162 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Globus Medical in the 1st quarter worth $404,000. Finally, Kingdon Capital Management L.L.C. purchased a new stake in shares of Globus Medical in the first quarter valued at about $10,240,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

Shares of GMED opened at $84.49 on Friday. The stock has a 50 day simple moving average of $75.05 and a 200 day simple moving average of $71.04. Globus Medical has a 52-week low of $44.02 and a 52-week high of $85.33. The firm has a market capitalization of $11.51 billion, a PE ratio of 126.10, a P/E/G ratio of 2.02 and a beta of 1.17.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter last year, the firm earned $0.57 EPS. Globus Medical’s revenue for the quarter was up 63.1% compared to the same quarter last year. Equities research analysts predict that Globus Medical will post 2.98 EPS 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.