Canaccord Genuity reiterated their buy rating on shares of Globus Medical, Inc. (NYSE:GMED) in a research report report published on Thursday. The brokerage currently has a $38.00 price objective on the medical device company’s stock.

Several other equities research analysts also recently commented on the company. Barclays PLC upped their target price on Globus Medical from $27.00 to $29.00 and gave the company an underweight rating in a report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Globus Medical in a report on Thursday. BTIG Research reaffirmed a buy rating and set a $37.00 target price 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. Finally, BidaskClub raised Globus Medical from a sell rating to a hold rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $34.00.

Shares of Globus Medical (GMED) traded up $1.71 during midday trading on Thursday, hitting $35.94. The stock had a trading volume of 1,829,800 shares, compared to its average volume of 662,568. Globus Medical has a twelve month low of $20.52 and a twelve month high of $35.96. The stock has a market capitalization of $3,460.70, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55.

Globus Medical (NYSE:GMED) last announced its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The business had revenue of $151.74 million during the quarter, compared to the consensus estimate of $150.73 million. During the same period in the prior year, the business posted $0.29 earnings per share. Globus Medical’s revenue was up 11.9% compared to the same quarter last year. sell-side analysts expect that Globus Medical will post 1.27 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.watchlistnews.com/globus-medicals-gmed-buy-rating-reiterated-at-canaccord-genuity/1698459.html.

In related news, insider A Brett Murphy sold 15,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 101,217 shares of the company’s stock, valued at $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 insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Globus Medical by 0.8% in the 2nd quarter. BlackRock Inc. now owns 7,448,420 shares of the medical device company’s stock worth $246,914,000 after purchasing an additional 61,138 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 76,345 shares during the last quarter. Janus Henderson Group PLC increased its position in Globus Medical by 260.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,683,312 shares of the medical device company’s stock worth $88,952,000 after purchasing an additional 1,938,039 shares during the last quarter. State Street Corp increased its position in Globus Medical by 5.8% in the 2nd quarter. State Street Corp now owns 2,376,667 shares of the medical device company’s stock worth $78,789,000 after purchasing an additional 129,939 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Globus Medical by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,360 shares of the medical device company’s stock worth $54,244,000 after purchasing an additional 44,421 shares during the last quarter. 65.46% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.