Analysts Set Globus Medical, Inc. (NYSE:GMED) PT at $88.18

Globus Medical, Inc. (NYSE:GMED) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $88.18.

GMED has been the topic of a number of research analyst reports. Barclays boosted their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. Bank of America boosted their price objective on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, November 6th. Piper Sandler increased their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their target price 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.

Insider Activity at Globus Medical

In related news, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at approximately $3,017,318.24. The trade was a 25.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock valued at $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp increased its stake 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 acquiring an additional 1,281 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Globus Medical by 11.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 14,470 shares of the medical device company’s stock worth $1,035,000 after purchasing an additional 1,470 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of 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 during the last quarter. TT International Asset Management LTD bought a new stake in Globus Medical in the 3rd quarter worth approximately $3,169,000. Finally, Coldstream Capital Management Inc. boosted its stake in Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after buying an additional 131 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Trading Down 0.3 %

Shares of Globus Medical stock opened at $84.49 on Friday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 126.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17. The business’s fifty day simple moving average is $75.05 and its 200 day simple moving average is $71.04. Globus Medical has a 12 month low of $44.02 and a 12 month high of $85.33.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. 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.