Globus Medical, Inc. (NYSE:GMED) Receives $96.91 Average PT from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $96.91.

A number of research analysts have recently weighed in on the stock. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Stifel Nicolaus boosted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Truist Financial upped their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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. Insiders have sold a total of 81,667 shares of company stock worth $6,674,554 in the last three months. 18.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the third quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter valued at about $33,000. Quarry LP grew its stake in Globus Medical by 698.4% in the third 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 increased its holdings 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 acquiring an additional 385 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock valued at $64,000 after acquiring an additional 257 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Performance

GMED stock opened at $88.00 on Friday. The stock has a market capitalization of $11.98 billion, a PE ratio of 131.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. Globus Medical has a one year low of $49.33 and a one year high of $90.48. The company has a fifty day moving average of $83.55 and a 200-day moving average of $75.53.

Globus Medical (NYSE:GMED) last posted 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. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period in the previous year, the business earned $0.57 earnings per share. Globus Medical’s quarterly revenue was up 63.1% compared to the same quarter last year. Equities analysts forecast that Globus Medical will post 2.97 earnings per share for the current fiscal 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.