Brokerages Set Globus Medical, Inc. (NYSE:GMED) PT at $97.82

Globus Medical, Inc. (NYSE:GMED) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $97.82.

A number of analysts have weighed in on the company. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company reduced their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Truist Financial boosted their price objective on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Globus Medical in the 4th quarter valued at approximately $27,000. Quarry LP grew its stake in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. grew its stake in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in shares of 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 valued at $48,000 after purchasing an additional 197 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Shares of NYSE GMED opened at $78.81 on Monday. The business’s 50-day moving average price is $86.18 and its two-hundred day moving average price is $79.60. Globus Medical has a one year low of $49.33 and a one year high of $94.93. The company has a market capitalization of $10.84 billion, a P/E ratio of 105.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. On average, equities analysts anticipate that Globus Medical will post 3.44 EPS for the current year.

About Globus Medical

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.