Globus Medical (NYSE:GMED) Given New $115.00 Price Target at Roth Mkm

Globus Medical (NYSE:GMED) had its target price hoisted by Roth Mkm from $100.00 to $115.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

GMED has been the subject of several other reports. Stifel Nicolaus increased their price objective on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. BTIG Research boosted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Globus Medical from $85.00 to $92.00 and gave the company a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average price target of $94.55.

Globus Medical Price Performance

Shares of GMED opened at $81.94 on Tuesday. Globus Medical has a one year low of $49.33 and a one year high of $87.22. The company has a 50-day moving average of $79.78 and a two-hundred day moving average of $73.23. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 122.30, a PEG ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company’s revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Analysts anticipate that Globus Medical will post 2.97 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,500 shares of company stock worth $7,674,950. Corporate insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Globus Medical by 12.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,497 shares of the medical device company’s stock valued at $376,000 after purchasing an additional 609 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Globus Medical by 5.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,017 shares of the medical device company’s stock valued at $481,000 after buying an additional 390 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Globus Medical in the 2nd quarter valued at approximately $3,593,000. Raymond James & Associates increased its position in Globus Medical by 14.7% in the 2nd quarter. Raymond James & Associates now owns 275,945 shares of the medical device company’s stock worth $18,899,000 after buying an additional 35,402 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Globus Medical by 15.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after buying an additional 160 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

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.