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

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald set a $65.00 price target on shares of Globus Medical and gave the stock a buy rating in a report on Tuesday, November 13th. Credit Suisse Group began coverage on shares of Globus Medical in a report on Monday, December 17th. They set an outperform rating and a $53.00 price target for the company. Leerink Swann boosted their price target on shares of Globus Medical from $61.00 to $65.00 and gave the stock an outperform rating in a report on Friday, November 9th. Piper Jaffray Companies boosted their price target on shares of Globus Medical to $62.00 and gave the stock an overweight rating in a report on Friday, November 9th. Finally, Oppenheimer set a $61.00 price target on shares of Globus Medical and gave the stock a hold rating in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $56.50.

GMED traded down $0.67 during trading hours on Thursday, hitting $42.19. 809,919 shares of the company’s stock were exchanged, compared to its average volume of 1,589,127. Globus Medical has a 12-month low of $38.01 and a 12-month high of $57.83. The company has a market cap of $4.20 billion, a P/E ratio of 32.21, a PEG ratio of 2.03 and a beta of 0.73.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, November 8th. The medical device company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. Globus Medical had a net margin of 20.79% and a return on equity of 15.36%. The firm had revenue of $169.20 million for the quarter, compared to the consensus estimate of $167.47 million. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts predict that Globus Medical will post 1.62 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Globus Medical by 2.8% in the 3rd quarter. BlackRock Inc. now owns 9,456,276 shares of the medical device company’s stock valued at $536,739,000 after purchasing an additional 254,550 shares during the last quarter. Vanguard Group Inc. raised its position in Globus Medical by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares during the last quarter. Vanguard Group Inc raised its position in Globus Medical by 3.4% in the 3rd quarter. Vanguard Group Inc now owns 6,735,494 shares of the medical device company’s stock valued at $382,306,000 after purchasing an additional 219,780 shares during the last quarter. AQR Capital Management LLC raised its position in Globus Medical by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,395,569 shares of the medical device company’s stock valued at $135,972,000 after purchasing an additional 169,823 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Globus Medical by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,336,716 shares of the medical device company’s stock valued at $75,872,000 after purchasing an additional 44,951 shares during the last quarter. Institutional investors and hedge funds own 65.19% of the company’s stock.

About Globus Medical

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 an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

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Analyst Recommendations for Globus Medical (NYSE:GMED)

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