Analysts Set Globus Medical, Inc. (NYSE:GMED) Price Target at $97.82

Shares of Globus Medical, Inc. (NYSE:GMED) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $97.82.

A number of equities analysts recently commented on GMED shares. Wells Fargo & Company dropped 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. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Canaccord Genuity Group lifted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Friday, February 21st. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Globus Medical

Hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Globus Medical in the 4th quarter valued at approximately $27,000. Quarry LP increased its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC increased its position in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the period. UMB Bank n.a. raised its stake in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 1.5 %

Shares of NYSE:GMED opened at $77.48 on Monday. The firm has a fifty day moving average of $85.90 and a two-hundred day moving average of $79.77. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93. The firm has a market capitalization of $10.66 billion, a P/E ratio of 103.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released 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 firm had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Equities research analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.

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.