Globus Medical, Inc. (NYSE:GMED)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research note issued on Friday. They presently have a $38.00 price target on the medical device company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 27.73% from the stock’s current price.

GMED has been the subject of a number of other reports. Zacks Investment Research cut Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub raised Globus Medical from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 7th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 30th. BTIG Research began coverage on Globus Medical in a research report on Thursday, September 7th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Barclays PLC reissued an “underweight” rating and issued a $28.00 target price (down from $30.00) on shares of Globus Medical in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Globus Medical presently has a consensus rating of “Hold” and a consensus price target of $31.38.

Shares of Globus Medical (NYSE:GMED) opened at 29.23 on Friday. The firm has a market cap of $2.81 billion, a P/E ratio of 26.33 and a beta of 0.60. The firm has a 50-day moving average price of $29.82 and a 200 day moving average price of $30.72. Globus Medical has a one year low of $19.25 and a one year high of $34.03.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $152.39 million during the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a return on equity of 13.99% and a net margin of 18.12%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. On average, analysts forecast that Globus Medical will post $1.27 earnings per share for the current fiscal year.

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In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the sale, the insider now directly owns 101,217 shares of the company’s stock, valued at approximately $3,035,497.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.21% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan lifted its position in Globus Medical by 1.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 33,330 shares of the medical device company’s stock worth $987,000 after acquiring an additional 560 shares during the period. Bank of America Corp DE lifted its position in Globus Medical by 17.5% during the 1st quarter. Bank of America Corp DE now owns 578,179 shares of the medical device company’s stock worth $17,125,000 after acquiring an additional 86,033 shares during the period. Geode Capital Management LLC lifted its position in Globus Medical by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 750,463 shares of the medical device company’s stock worth $22,228,000 after acquiring an additional 84,912 shares during the period. SG Americas Securities LLC lifted its position in Globus Medical by 19.9% during the 2nd quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock worth $1,587,000 after acquiring an additional 7,937 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Globus Medical by 30.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 201,635 shares of the medical device company’s stock worth $5,972,000 after acquiring an additional 46,857 shares during the period. 65.64% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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