Stifel Nicolaus Boosts Globus Medical (NYSE:GMED) Price Target to $94.00

Globus Medical (NYSE:GMED) had its target price boosted by research analysts at Stifel Nicolaus from $92.00 to $94.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.87% from the company’s current price.

Several other brokerages also recently issued reports on GMED. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday. BTIG Research raised their target price on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Roth Mkm raised their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical Stock Down 4.4 %

Shares of GMED stock opened at $80.43 on Friday. The firm has a fifty day moving average of $86.72 and a 200-day moving average of $79.03. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 107.24, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued 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. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. On average, equities analysts expect that Globus Medical will post 3.44 EPS for the current year.

Insider Activity

In other news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

A number of hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in Globus Medical in the 4th quarter worth about $27,000. Quarry LP raised its stake in Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. UMB Bank n.a. raised its stake in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 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.