Brokerages Set Globus Medical, Inc. (NYSE:GMED) PT at $97.82

Shares of Globus Medical, Inc. (NYSE:GMED) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $97.82.

A number of research firms have commented on GMED. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Friday, February 21st. Roth Mkm boosted their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Barclays increased their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 24th.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Globus Medical in the 4th quarter valued at approximately $16,757,000. Polar Asset Management Partners Inc. increased its stake in Globus Medical by 73.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 452,274 shares of the medical device company’s stock valued at $37,408,000 after purchasing an additional 191,700 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in Globus Medical by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company’s stock worth $216,544,000 after purchasing an additional 43,330 shares during the period. PharVision Advisers LLC bought a new position in shares of Globus Medical during the fourth quarter worth $339,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Globus Medical by 9.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,500 shares of the medical device company’s stock valued at $26,426,000 after buying an additional 28,330 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Globus Medical stock opened at $77.48 on Monday. The business has a 50 day simple moving average of $85.90 and a 200 day simple moving average of $79.77. The company has a market capitalization of $10.66 billion, a PE ratio of 103.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical has a one year low of $49.33 and a one year high of $94.93.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Equities analysts anticipate that Globus Medical will post 3.44 earnings per share for the current fiscal 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.