Globus Medical (NYSE:GMED) Receives Hold Rating from Needham & Company LLC

Globus Medical (NYSE:GMED)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports.

Several other equities research analysts have also commented on GMED. Stifel Nicolaus boosted their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Barclays upped their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Canaccord Genuity Group lifted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Roth Mkm raised their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $72.16 on Tuesday. The firm has a 50-day simple moving average of $84.63 and a two-hundred day simple moving average of $79.80. Globus Medical has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a market cap of $9.93 billion, a P/E ratio of 96.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Equities research analysts forecast that Globus Medical will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 18.54% of the company’s stock.

Institutional Investors Weigh In On Globus Medical

Large investors have recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Globus Medical during the third quarter worth about $523,000. Pathstone Holdings LLC boosted its holdings in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock valued at $2,934,000 after buying an additional 1,055 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Globus Medical by 7.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company’s stock valued at $27,739,000 after buying an additional 26,047 shares during the last quarter. Intech Investment Management LLC raised its stake in Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock worth $1,469,000 after acquiring an additional 15,283 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Globus Medical in the third quarter valued at $26,406,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.