Globus Medical (GMED) Projected to Post Quarterly Earnings on Thursday

Globus Medical (NYSE:GMED) is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of $0.74 per share and revenue of $646.19 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Globus Medical Price Performance

Globus Medical stock opened at $83.99 on Tuesday. The firm’s 50 day simple moving average is $86.65 and its 200-day simple moving average is $78.66. The company has a market cap of $11.44 billion, a P/E ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical has a fifty-two week low of $49.33 and a fifty-two week high of $94.93.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Morgan Stanley upgraded shares of 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 note on Monday, December 2nd. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday. Finally, 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 research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $96.91.

Insider Transactions at Globus Medical

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

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.