Globus Medical Inc (GMED) Receives $55.67 Average Target Price from Brokerages

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.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Globus Medical by 0.6% in the fourth quarter. BlackRock Inc. now owns 9,513,779 shares of the medical device company’s stock worth $411,756,000 after purchasing an additional 57,503 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Globus Medical by 3.4% in the third quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after acquiring an additional 219,780 shares during the period. Vanguard Group Inc boosted its position in shares of Globus Medical by 3.4% in the third quarter. Vanguard Group Inc now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after acquiring an additional 219,780 shares during the period. AQR Capital Management LLC boosted its position in shares of Globus Medical by 7.6% in the third quarter. AQR Capital Management LLC now owns 2,395,569 shares of the medical device company’s stock valued at $135,972,000 after acquiring an additional 169,823 shares during the period. Finally, Investec Asset Management LTD bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $64,761,000. Hedge funds and other institutional investors own 69.26% of the company’s stock.

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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