Globus Medical, Inc. (GMED) Given a $42.00 Price Target by BTIG Research Analysts
BTIG Research set a $42.00 target price on Globus Medical, Inc. (NYSE:GMED) in a research report report published on Monday morning. The firm currently has a buy rating on the medical device company’s stock.
Other analysts have also issued research reports about the stock. Gabelli reissued a buy rating on shares of Globus Medical in a research report on Friday, August 4th. Barclays PLC reissued an underweight rating and issued a $28.00 price target (down previously from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $35.00 price target on shares of Globus Medical and gave the company a hold rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Globus Medical from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of Globus Medical from a hold rating to a sell rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $35.00.
Globus Medical (NYSE:GMED) opened at $37.25 on Monday. The firm has a market cap of $3,590.01, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.55. Globus Medical has a 52 week low of $20.89 and a 52 week high of $38.04.
Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. The firm had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. analysts expect that Globus Medical will post 1.27 EPS for the current fiscal year.
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In other news, insider A Brett Murphy sold 51,449 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the sale, the insider now owns 49,768 shares of the company’s stock, valued at $1,741,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 28.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GMED. SG Americas Securities LLC grew its stake in Globus Medical by 19.9% in the 2nd quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock worth $1,587,000 after buying an additional 7,937 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Globus Medical by 26.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 166,090 shares of the medical device company’s stock worth $5,505,000 after buying an additional 34,513 shares in the last quarter. Vanguard Group Inc. grew its stake in Globus Medical by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock worth $189,355,000 after buying an additional 76,345 shares in the last quarter. AJO LP purchased a new position in Globus Medical in the 2nd quarter worth approximately $1,262,000. Finally, Schwab Charles Investment Management Inc. grew its stake in Globus Medical by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 292,401 shares of the medical device company’s stock worth $8,661,000 after buying an additional 15,501 shares in the last quarter. 67.76% of the stock is currently owned by institutional investors and hedge funds.
About Globus Medical
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.
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