Globus Medical, Inc. (NYSE:GMED) Receives $96.91 Average Price Target from Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $96.91.

Several brokerages recently weighed in on GMED. Piper Sandler increased their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial boosted their price objective on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Roth Mkm increased their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $83.00 to $100.00 in a research note on Monday, December 2nd.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,667 shares of company stock valued at $6,674,554. 18.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globus Medical

A number of large investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its stake in shares of Globus Medical by 3.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,051 shares of the medical device company’s stock worth $666,000 after purchasing an additional 301 shares in the last quarter. UMB Bank n.a. lifted its holdings in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Globus Medical by 20.6% during the 4th quarter. Artemis Investment Management LLP now owns 516,887 shares of the medical device company’s stock worth $42,752,000 after acquiring an additional 88,368 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Globus Medical in the 4th quarter valued at about $301,000. Finally, Park Avenue Securities LLC increased its holdings in shares of Globus Medical by 26.4% in the 4th quarter. Park Avenue Securities LLC now owns 7,405 shares of the medical device company’s stock valued at $612,000 after acquiring an additional 1,546 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Trading Down 0.3 %

Shares of GMED stock opened at $90.41 on Friday. Globus Medical has a twelve month low of $49.33 and a twelve month high of $91.44. The company’s 50-day moving average price is $83.71 and its 200-day moving average price is $75.64. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 134.94, a PEG ratio of 1.80 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same period in the previous year, the business posted $0.57 EPS. Globus Medical’s revenue was up 63.1% on a year-over-year basis. As a group, equities research analysts predict that Globus Medical will post 2.98 EPS for the current year.

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.