By otakuyassine3@gmail.com 
StockNews.com upgraded shares of Globus Medical (NYSE:GMED – Free Report) from a hold rating to a buy rating in a research note published on Thursday.
Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus increased their target price on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Truist Financial raised their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Wells Fargo & Company cut their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.82.
Globus Medical Stock Down 2.4 %
NYSE GMED opened at $69.61 on Thursday. The stock’s 50-day simple moving average is $85.09 and its two-hundred day simple moving average is $79.69. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.61 and a beta of 1.19.
Globus Medical (NYSE:GMED – Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, equities analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.
Insider Activity at Globus Medical
In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.54% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of GMED. Farther Finance Advisors LLC lifted its holdings in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Globus Medical by 6.0% during the third quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company’s stock valued at $554,000 after buying an additional 436 shares during the last quarter. KBC Group NV boosted its holdings in Globus Medical by 0.5% in the third quarter. KBC Group NV now owns 45,505 shares of the medical device company’s stock worth $3,255,000 after acquiring an additional 237 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Globus Medical by 0.8% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,024 shares of the medical device company’s stock worth $2,792,000 after acquiring an additional 321 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Globus Medical during the third quarter valued at $523,000. 95.16% of the stock is owned by hedge funds and other institutional investors.
Globus Medical Company Profile
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
Further Reading
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