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

Globus Medical (NYSE:GMED) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities analysts also recently commented on GMED. Canaccord Genuity Group upped their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. BTIG Research upped their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays upped their price target 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. Finally, Piper Sandler increased their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Globus Medical Price Performance

NYSE:GMED opened at $76.39 on Wednesday. Globus Medical has a one year low of $49.33 and a one year high of $94.93. The company has a market cap of $10.51 billion, a P/E ratio of 101.85, a P/E/G ratio of 1.61 and a beta of 1.19. The firm’s fifty day moving average price is $86.02 and its two-hundred day moving average price is $79.58.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. As a group, equities research analysts expect 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical in the fourth quarter worth about $27,000. Quarry LP raised its holdings in Globus Medical by 698.4% in 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 during the last quarter. Farther Finance Advisors LLC raised its holdings in 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 buying an additional 385 shares during the last quarter. UMB Bank n.a. raised its holdings in Globus Medical by 60.2% in 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 during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Globus Medical by 52.0% in 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 during the last quarter. Institutional investors own 95.16% of the company’s stock.

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.