Globus Medical Inc (GMED) Receives Average Recommendation of “Hold” from Brokerages

Shares of Globus Medical Inc (NYSE:GMED) have received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.00.

Several research firms have issued reports on GMED. Canaccord Genuity reiterated a “hold” rating and set a $27.00 target price on shares of Globus Medical in a research report on Monday, January 23rd. Zacks Investment Research upgraded Globus Medical from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Aegis began coverage on Globus Medical in a research report on Wednesday, November 30th. They set a “buy” rating and a $31.00 target price on the stock. Leerink Swann reiterated a “hold” rating and set a $23.00 target price on shares of Globus Medical in a research report on Wednesday, November 9th. Finally, Oppenheimer Holdings, Inc. cut Globus Medical from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $29.00 to $23.00 in a research report on Wednesday, November 9th.

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Several large investors have recently added to or reduced their stakes in GMED. Eagle Asset Management Inc. boosted its stake in Globus Medical by 13.8% in the third quarter. Eagle Asset Management Inc. now owns 165,298 shares of the medical device company’s stock worth $3,730,000 after buying an additional 20,055 shares in the last quarter. Capital Impact Advisors LLC boosted its stake in Globus Medical by 61.3% in the third quarter. Capital Impact Advisors LLC now owns 63,926 shares of the medical device company’s stock worth $1,443,000 after buying an additional 24,300 shares in the last quarter. Royal Bank of Canada boosted its stake in Globus Medical by 17.0% in the second quarter. Royal Bank of Canada now owns 308,444 shares of the medical device company’s stock worth $7,350,000 after buying an additional 44,924 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Globus Medical by 2.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 257,876 shares of the medical device company’s stock worth $6,146,000 after buying an additional 5,388 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in Globus Medical by 359.0% in the second quarter. Fiera Capital Corp now owns 373,623 shares of the medical device company’s stock worth $8,904,000 after buying an additional 292,223 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Shares of Globus Medical (NYSE:GMED) traded up 0.70% during trading on Friday, reaching $27.46. The company had a trading volume of 252,943 shares. The firm’s 50 day moving average price is $26.13 and its 200 day moving average price is $23.60. The firm has a market capitalization of $2.63 billion, a P/E ratio of 22.51 and a beta of 0.63. Globus Medical has a 12 month low of $19.25 and a 12 month high of $27.66.

Globus Medical Company Profile

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.

5 Day Chart for NYSE:GMED

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