Globus Medical (NYSE:GMED) Raised to “Buy” at StockNews.com

Globus Medical (NYSE:GMED) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also recently issued reports on GMED. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Truist Financial lifted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. BTIG Research boosted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

Globus Medical Trading Up 2.2 %

Globus Medical stock opened at $71.21 on Thursday. The stock has a market cap of $9.79 billion, a P/E ratio of 94.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company has a fifty day simple moving average of $84.86 and a 200-day simple moving average of $79.69. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, sell-side analysts forecast that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.54% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. increased its position in Globus Medical by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after purchasing an additional 131 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after acquiring an additional 132 shares in the last quarter. US Bancorp DE increased its position in shares of Globus Medical by 3.2% in the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after acquiring an additional 135 shares in the last quarter. Berry Wealth Group LP grew its holdings in Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after purchasing an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Globus Medical by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock valued at $288,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds 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.