Globus Medical (NYSE:GMED) Raised to Buy at StockNews.com

Globus Medical (NYSE:GMED) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other research firms also recently issued reports on GMED. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, February 6th. Piper Sandler increased their target price on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, BTIG Research increased their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Price Performance

NYSE:GMED opened at $83.99 on Friday. The company has a market cap of $11.44 billion, a P/E ratio of 125.36, a P/E/G ratio of 1.68 and a beta of 1.19. The stock’s fifty day moving average price is $86.65 and its two-hundred day moving average price is $78.56. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93.

Insider Activity at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the third quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the fourth quarter valued at about $27,000. Quarry LP grew its stake in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Globus Medical by 60.2% during the fourth 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 during the last quarter. 95.16% of the stock is owned by institutional investors.

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.