Brokerages Set Globus Medical, Inc. (NYSE:GMED) Target Price at $66.33

Globus Medical, Inc. (NYSE:GMED) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $66.50.

Several equities analysts have recently commented on GMED shares. Piper Sandler boosted their price objective on Globus Medical from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial increased their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Barclays upped their target price on shares of Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday.

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the transaction, the director now directly owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.30% of the stock is currently owned by insiders.

Institutional Trading of Globus Medical

Large investors have recently modified their holdings of the company. Radnor Capital Management LLC increased its holdings in shares of Globus Medical by 0.7% in the 1st quarter. Radnor Capital Management LLC now owns 29,101 shares of the medical device company’s stock valued at $1,561,000 after acquiring an additional 215 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Globus Medical by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock valued at $378,000 after purchasing an additional 244 shares during the last quarter. Allworth Financial LP raised its holdings in Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after purchasing an additional 254 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Globus Medical by 0.3% during the first quarter. Retirement Systems of Alabama now owns 144,866 shares of the medical device company’s stock valued at $7,771,000 after buying an additional 380 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Globus Medical by 4.6% in the 3rd quarter. Fifth Third Bancorp now owns 8,868 shares of the medical device company’s stock valued at $440,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 4.3 %

Shares of Globus Medical stock opened at $64.40 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. The stock has a market capitalization of $8.72 billion, a PE ratio of 55.04, a P/E/G ratio of 1.53 and a beta of 1.11. Globus Medical has a 1-year low of $43.38 and a 1-year high of $65.74. The company’s fifty day simple moving average is $52.71 and its 200-day simple moving average is $51.35.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. The firm had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s quarterly revenue was up 119.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities analysts anticipate that Globus Medical will post 2.69 earnings per share 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.