Globus Medical, Inc. (GMED) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.
Globus Medical, Inc. (NYSE:GMED)‘s stock had its “hold” rating reiterated by research analysts at Oppenheimer Holdings, Inc. in a report released on Wednesday.
A number of other research firms have also weighed in on GMED. BidaskClub raised shares of Globus Medical from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating on shares of Globus Medical in a research report on Tuesday, July 11th. Barclays PLC reissued a “sell” rating and set a $30.00 price target on shares of Globus Medical in a research report on Friday, May 5th. Finally, Canaccord Genuity raised shares of Globus Medical from a “hold” rating to a “buy” rating and raised their price target for the company from $30.00 to $37.00 in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.43.
Shares of Globus Medical (NYSE GMED) opened at 30.23 on Wednesday. The stock’s 50 day moving average price is $30.55 and its 200-day moving average price is $30.47. The firm has a market cap of $2.91 billion, a P/E ratio of 27.23 and a beta of 0.60. Globus Medical has a 12 month low of $19.25 and a 12 month high of $34.03.
Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The firm had revenue of $152.39 million for the quarter, compared to analyst estimates of $150.94 million. During the same period last year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Globus Medical will post $1.27 earnings per share for the current fiscal year.
In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the sale, the president now owns 16,153 shares of the company’s stock, valued at $515,926.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 28.21% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Broadfin Capital LLC bought a new stake in shares of Globus Medical during the second quarter valued at approximately $2,211,000. Koch Industries Inc. raised its stake in shares of Globus Medical by 3,950.6% in the second quarter. Koch Industries Inc. now owns 479,431 shares of the medical device company’s stock valued at $465,000 after buying an additional 467,595 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of Globus Medical by 1.2% in the second quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock valued at $375,000 after buying an additional 130 shares in the last quarter. Susquehanna International Group LLP raised its stake in shares of Globus Medical by 453.3% in the second quarter. Susquehanna International Group LLP now owns 41,870 shares of the medical device company’s stock valued at $1,388,000 after buying an additional 53,721 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Globus Medical during the second quarter valued at approximately $2,283,000. 65.80% of the stock is currently owned by institutional investors and hedge funds.
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.
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