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

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

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Truist Financial cut their price target on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Roth Mkm increased their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Stock Performance

Shares of GMED opened at $73.67 on Friday. The stock has a market cap of $10.13 billion, a PE ratio of 98.22, a price-to-earnings-growth ratio of 1.61 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. The firm’s 50-day simple moving average is $83.61 and its two-hundred day simple moving average is $79.77.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Equities research analysts predict that Globus Medical will post 3.44 EPS for the current year.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 18.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Oak Thistle LLC bought a new position in Globus Medical in the fourth quarter worth approximately $376,000. bLong Financial LLC bought a new stake in shares of Globus Medical during the 4th quarter valued at $397,000. Kathmere Capital Management LLC bought a new stake in shares of Globus Medical during the 4th quarter valued at $23,091,000. Intech Investment Management LLC raised its position in shares of Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after purchasing an additional 15,283 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Globus Medical during the 3rd quarter valued at $523,000. 95.16% of the stock is currently owned by institutional investors.

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.