Shares of Globus Medical Inc (NYSE:GMED) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.00.
GMED has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 target price on shares of Globus Medical in a report on Friday, March 1st. Zacks Investment Research downgraded shares of Globus Medical from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Oppenheimer reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday, March 19th. ValuEngine downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, UBS Group upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, February 28th.
In related news, SVP Kelly Huller sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $48.59, for a total transaction of $145,770.00. Following the completion of the sale, the senior vice president now owns 12,384 shares in the company, valued at $601,738.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anthony L. Williams sold 212,082 shares of Globus Medical stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.83, for a total transaction of $9,931,800.06. Following the completion of the transaction, the president now owns 89,583 shares of the company’s stock, valued at approximately $4,195,171.89. The disclosure for this sale can be found here. Insiders have sold 426,852 shares of company stock valued at $20,061,774 in the last 90 days. 28.44% of the stock is currently owned by corporate insiders.
Shares of NYSE GMED opened at $46.29 on Friday. The firm has a market cap of $4.65 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.41 and a beta of 0.86. Globus Medical has a 12-month low of $38.01 and a 12-month high of $57.83.
Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, February 21st. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $195.94 million for the quarter, compared to analyst estimates of $195.50 million. Globus Medical had a net margin of 21.95% and a return on equity of 15.22%. On average, analysts predict that Globus Medical will post 1.71 EPS for the current year.
Globus Medical Company Profile
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches.
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