Analysts Set Globus Medical, Inc. (NYSE:GMED) PT at $93.55

Shares of Globus Medical, Inc. (NYSE:GMED) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $94.55.

GMED has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday. BTIG Research upped their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Roth Mkm increased their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, 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.

Insider Transactions at Globus Medical

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,500 shares of company stock valued at $7,674,950. Insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its position in shares of Globus Medical by 2.2% in the 3rd 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 in the last quarter. Stephens Inc. AR boosted its holdings in Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after acquiring an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after acquiring an additional 140 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after acquiring an additional 160 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Globus Medical by 0.4% during the second quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock valued at $3,145,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 0.8 %

Shares of Globus Medical stock opened at $82.63 on Wednesday. Globus Medical has a 52 week low of $49.33 and a 52 week high of $87.22. The business has a 50 day moving average price of $80.02 and a 200-day moving average price of $73.34. The company has a market cap of $11.25 billion, a PE ratio of 123.33, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. 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 firm earned $0.57 EPS. As a group, research analysts anticipate that Globus Medical will post 2.97 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.