Globus Medical Inc (NYSE:GMED)‘s stock had its “hold” rating reissued by investment analysts at Oppenheimer Holdings Inc. in a report issued on Thursday.
Other analysts also recently issued research reports about the stock. Barclays PLC reissued a “sell” rating and set a $30.00 target price on shares of Globus Medical in a research report on Friday, May 5th. Aegis reissued a “buy” rating and set a $31.00 target price on shares of Globus Medical in a research report on Tuesday, February 28th. Canaccord Genuity reissued a “hold” rating and set a $27.00 target price on shares of Globus Medical in a research report on Monday, January 23rd. Zacks Investment Research downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Finally, Leerink Swann raised shares of Globus Medical from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $28.18.
Shares of Globus Medical (NYSE:GMED) traded up 1.15% during midday trading on Thursday, hitting $30.68. 374,986 shares of the company’s stock were exchanged. The firm has a market cap of $2.95 billion, a PE ratio of 28.15 and a beta of 0.63. Globus Medical has a one year low of $19.25 and a one year high of $33.06. The stock’s 50-day moving average price is $30.56 and its 200 day moving average price is $26.65.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, May 3rd. The medical device company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Globus Medical had a net margin of 21.20% and a return on equity of 14.92%. The company had revenue of $155.81 million during the quarter. Equities research analysts forecast that Globus Medical will post $1.27 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in shares of Globus Medical during the fourth quarter valued at about $11,909,000. Virginia Retirement Systems ET AL boosted its position in shares of Globus Medical by 110.1% in the first quarter. Virginia Retirement Systems ET AL now owns 81,300 shares of the medical device company’s stock valued at $2,408,000 after buying an additional 42,600 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Globus Medical by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,786,939 shares of the medical device company’s stock valued at $44,334,000 after buying an additional 168,849 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Globus Medical during the fourth quarter valued at about $3,731,000. Finally, Comerica Bank purchased a new position in shares of Globus Medical during the fourth quarter valued at about $1,472,000. 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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