Globus Medical (NYSE:GMED) Upgraded at StockNews.com

StockNews.com upgraded shares of Globus Medical (NYSE:GMED) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Barclays boosted their price objective on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Globus Medical Stock Up 2.2 %

NYSE:GMED opened at $71.21 on Thursday. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The stock’s 50-day simple moving average is $84.86 and its 200 day simple moving average is $79.74. The firm has a market capitalization of $9.79 billion, a PE ratio of 94.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, analysts anticipate that Globus Medical will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 18.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. Coldstream Capital Management Inc. grew its stake in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the last quarter. First Horizon Advisors Inc. grew its position in Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE increased its stake in Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after purchasing an additional 135 shares in the last quarter. Berry Wealth Group LP increased its stake in Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after purchasing an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after buying an additional 175 shares during the last quarter. Institutional investors 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.