Globus Medical (NYSE:GMED) Stock Rating Lowered by StockNews.com

Globus Medical (NYSE:GMED) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other equities analysts have also recently weighed in on GMED. Stifel Nicolaus raised their target price on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays raised their target price on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Canaccord Genuity Group lifted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. BTIG Research lifted their price objective 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, Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.09.

Globus Medical Stock Performance

GMED opened at $73.67 on Friday. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 98.22, a PEG ratio of 1.61 and a beta of 1.19. The company has a fifty day moving average of $83.61 and a 200 day moving average of $79.77. Globus Medical has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Globus Medical (NYSE:GMED) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.10. The company 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%. On average, equities research analysts forecast that Globus Medical will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

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

Institutional Investors Weigh In On Globus Medical

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Globus Medical during the 4th quarter valued at about $27,000. Quarry LP lifted its holdings in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. lifted its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after buying an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after buying an additional 132 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

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.