Globus Medical (GMED) Given a $45.00 Price Target at BTIG Research

BTIG Research set a $45.00 target price on Globus Medical (NYSE:GMED) in a report released on Tuesday morning. The firm currently has a buy rating on the medical device company’s stock.

GMED has been the subject of a number of other reports. BidaskClub upgraded Globus Medical from a sell rating to a hold rating in a research note on Saturday, October 7th. Wells Fargo & Co upgraded Globus Medical from a market perform rating to an outperform rating and set a $46.00 target price for the company in a research note on Monday, December 4th. Zacks Investment Research upgraded Globus Medical from a sell rating to a hold rating in a research note on Friday, November 10th. Canaccord Genuity restated a buy rating and issued a $38.00 target price on shares of Globus Medical in a research note on Friday, September 22nd. Finally, Piper Jaffray Companies restated a buy rating on shares of Globus Medical in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $38.86.

Globus Medical (NYSE:GMED) traded up $2.07 during trading on Tuesday, reaching $43.17. The company’s stock had a trading volume of 797,600 shares, compared to its average volume of 634,350. Globus Medical has a 1 year low of $24.58 and a 1 year high of $43.55. The firm has a market capitalization of $4,160.00, a price-to-earnings ratio of 39.25, a P/E/G ratio of 2.90 and a beta of 0.56.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The firm had revenue of $151.74 million during the quarter, compared to analyst estimates of $150.73 million. During the same period in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. sell-side analysts forecast that Globus Medical will post 1.27 earnings per share for the current fiscal year.

In related news, CAO Steven Payne sold 3,076 shares of Globus Medical stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now directly owns 23,847 shares in the company, valued at $937,187.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David D. Davidar sold 55,383 shares of Globus Medical stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $40.66, for a total value of $2,251,872.78. Following the completion of the sale, the director now owns 752,236 shares of the company’s stock, valued at $30,585,915.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,908 shares of company stock valued at $4,747,975. Corporate insiders own 28.21% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Globus Medical by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after purchasing an additional 31 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after buying an additional 35 shares during the last quarter. Advisor Group Inc. boosted its holdings in Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after buying an additional 68 shares during the last quarter. 1st Global Advisors Inc. boosted its holdings in Globus Medical by 1.2% during the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after buying an additional 130 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Globus Medical by 2.8% during the second quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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