Globus Medical (NYSE:GMED) Given “Buy” Rating at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Globus Medical (NYSE:GMED) in a research note released on Wednesday morning, Benzinga reports. They currently have a $100.00 price target on the medical device company’s stock.

Several other research firms have also issued reports on GMED. Truist Financial lifted their price target on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday. Stifel Nicolaus lifted their price target on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company boosted their price target on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.09.

Globus Medical Trading Down 0.4 %

Globus Medical stock traded down $0.31 during midday trading on Wednesday, reaching $82.40. 158,068 shares of the stock traded hands, compared to its average volume of 994,245. Globus Medical has a fifty-two week low of $43.38 and a fifty-two week high of $84.87. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 275.67, a PEG ratio of 2.06 and a beta of 1.17. The firm has a fifty day moving average price of $71.92 and a two-hundred day moving average price of $68.16.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. Analysts anticipate that Globus Medical will post 2.84 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the transaction, the director now owns 536,275 shares of the company’s stock, valued at $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David D. Davidar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the sale, the director now directly owns 536,275 shares of the company’s stock, valued at $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Hedge Funds Weigh In On Globus Medical

Large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in Globus Medical in the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical during the second quarter worth about $33,000. Farther Finance Advisors LLC grew its position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares in the last quarter. GAMMA Investing LLC increased its stake in Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical in the 2nd quarter valued at approximately $52,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Company Profile

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.