Globus Medical (NYSE:GMED) Upgraded at StockNews.com

StockNews.com upgraded shares of Globus Medical (NYSE:GMED) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other equities analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Barclays boosted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Truist Financial boosted 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. Finally, Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Stock Performance

NYSE:GMED opened at $71.21 on Thursday. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 94.94, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93. The business has a fifty day moving average of $84.86 and a 200-day moving average of $79.74.

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

Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 18.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oak Thistle LLC bought a new position in Globus Medical in the 4th quarter valued at about $376,000. bLong Financial LLC bought a new position in shares of Globus Medical during the fourth quarter worth approximately $397,000. Kathmere Capital Management LLC acquired a new stake in Globus Medical during the 4th quarter worth approximately $23,091,000. Intech Investment Management LLC lifted its holdings in 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 worth $1,469,000 after purchasing an additional 15,283 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Globus Medical in the 3rd quarter valued at $523,000. 95.16% of the stock is currently 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.