Shares of Globus Medical Inc (NYSE:GMED) have earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the company. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.50.
A number of equities research analysts recently weighed in on GMED shares. Oppenheimer Holdings Inc. set a $29.00 price objective on Globus Medical and gave the stock a “hold” rating in a research note on Tuesday, February 28th. Canaccord Genuity reiterated a “hold” rating and issued a $27.00 price target on shares of Globus Medical in a research note on Monday, January 23rd. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Leerink Swann upgraded Globus Medical from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 12th. Finally, Aegis reiterated a “buy” rating and issued a $31.00 price target on shares of Globus Medical in a research note on Tuesday, February 28th.
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Shares of Globus Medical (NYSE:GMED) traded up 1.64% on Tuesday, hitting $31.03. 217,327 shares of the stock were exchanged. Globus Medical has a 52-week low of $19.25 and a 52-week high of $31.27. The company has a 50 day moving average of $29.01 and a 200 day moving average of $25.42. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 28.73 and a beta of 0.63.
Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Monday, February 27th. The medical device company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $151.59 million for the quarter, compared to analysts’ expectations of $149.30 million. Globus Medical had a return on equity of 14.92% and a net margin of 21.20%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Equities research analysts forecast that Globus Medical will post $1.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GMED. Acrospire Investment Management LLC boosted its position in shares of Globus Medical by 31.7% in the third quarter. Acrospire Investment Management LLC now owns 5,400 shares of the medical device company’s stock valued at $122,000 after buying an additional 1,300 shares during the last quarter. Sei Investments Co. raised its stake in Globus Medical by 100.0% in the third quarter. Sei Investments Co. now owns 7,432 shares of the medical device company’s stock valued at $168,000 after buying an additional 3,716 shares during the period. Hartford Investment Management Co. bought a new stake in Globus Medical during the first quarter valued at approximately $207,000. First Allied Advisory Services Inc. bought a new stake in Globus Medical during the fourth quarter valued at approximately $225,000. Finally, 1st Global Advisors Inc. raised its stake in Globus Medical by 8.2% in the third quarter. 1st Global Advisors Inc. now owns 10,780 shares of the medical device company’s stock valued at $243,000 after buying an additional 818 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.
About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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