Globus Medical, Inc. (GMED) Given Hold Rating at Needham & Company LLC
A number of other equities research analysts have also recently weighed in on the company. BTIG Research reaffirmed a buy rating and set a $37.00 price target on shares of Globus Medical in a report on Thursday. Piper Jaffray Companies reaffirmed a buy rating on shares of Globus Medical in a report on Thursday, October 19th. Barclays PLC dropped their price target on Globus Medical from $28.00 to $27.00 and set an underweight rating for the company in a report on Thursday, October 19th. BidaskClub raised Globus Medical from a sell rating to a hold rating in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Globus Medical from a sell rating to a hold rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Globus Medical currently has a consensus rating of Hold and a consensus target price of $34.00.
Globus Medical (NYSE:GMED) traded up $1.71 during mid-day trading on Thursday, reaching $35.94. The company had a trading volume of 1,829,222 shares, compared to its average volume of 672,274. Globus Medical has a 12-month low of $20.52 and a 12-month high of $35.96. The firm has a market cap of $3,065.91, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.40 and a beta of 0.55.
Globus Medical (NYSE:GMED) last released its quarterly 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. Globus Medical had a return on equity of 13.93% and a net margin of 17.54%. The firm had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 11.9% on a year-over-year basis. equities analysts expect that Globus Medical will post 1.27 earnings per share for the current year.
In other news, insider A Brett Murphy sold 15,000 shares of Globus Medical stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $29.99, for a total value 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 link. 28.21% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Globus Medical by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after purchasing an additional 35 shares during the last quarter. Sei Investments Co. boosted its position in shares of Globus Medical by 18.9% in the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after purchasing an additional 503 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Globus Medical by 2.0% in the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after purchasing an additional 68 shares during the last quarter. Turner Investments LLC bought a new position in shares of Globus Medical in the 2nd quarter worth $166,000. Finally, Victory Capital Management Inc. boosted its position in shares of Globus Medical by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock worth $179,000 after purchasing an additional 808 shares during the last quarter. Institutional investors and hedge funds own 65.46% of the company’s stock.
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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