Globus Medical, Inc. (NYSE:GMED) Receives $97.09 Average Target Price from Brokerages

Globus Medical, Inc. (NYSE:GMED) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $97.09.

A number of analysts recently commented on GMED shares. BTIG Research boosted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Canaccord Genuity Group boosted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays lifted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.54% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Several large investors have recently modified their holdings of GMED. 111 Capital bought a new position in Globus Medical in the 4th quarter worth approximately $663,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Globus Medical by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,787 shares of the medical device company’s stock worth $479,000 after purchasing an additional 150 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Globus Medical in the 4th quarter worth about $16,757,000. Polar Asset Management Partners Inc. grew its holdings in Globus Medical by 73.6% during the 4th quarter. Polar Asset Management Partners Inc. now owns 452,274 shares of the medical device company’s stock valued at $37,408,000 after buying an additional 191,700 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in shares of Globus Medical by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company’s stock valued at $216,544,000 after buying an additional 43,330 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 1.6 %

Shares of GMED stock opened at $72.49 on Friday. The firm has a 50 day moving average of $82.14 and a 200-day moving average of $80.00. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 96.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $646.19 million. Analysts anticipate that Globus Medical will post 3.44 earnings per share for the current 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.