Globus Medical, Inc. (NYSE:GMED) Given Average Rating of “Moderate Buy” by Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $66.33.

A number of brokerages have weighed in on GMED. Truist Financial raised their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of Globus Medical in a research report on Thursday, January 11th. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, March 18th. Finally, Stifel Nicolaus raised their target price on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st.

Globus Medical Stock Performance

NYSE GMED opened at $50.74 on Friday. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. Globus Medical has a twelve month low of $43.38 and a twelve month high of $62.88. The stock has a 50-day moving average of $53.23 and a 200 day moving average of $51.36. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 43.37, a PEG ratio of 1.51 and a beta of 1.08.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s revenue was up 124.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts anticipate that Globus Medical will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the transaction, the director now directly owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Globus Medical during the 4th quarter worth $28,000. Quarry LP acquired a new position in Globus Medical in the first quarter valued at about $27,000. Advisory Services Network LLC boosted its stake in Globus Medical by 109.6% during the first quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock worth $28,000 after buying an additional 263 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Globus Medical in the 3rd quarter valued at approximately $28,000. Finally, Covestor Ltd lifted its holdings in shares of Globus Medical by 86.5% in the 1st quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock worth $58,000 after acquiring an additional 364 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.