Globus Medical, Inc. (NYSE:GMED) Given Consensus Recommendation of “Hold” by Analysts

Shares of Globus Medical, Inc. (NYSE:GMED) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $67.89.

Several equities research analysts have recently issued reports on GMED shares. Stifel Nicolaus raised shares of Globus Medical from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Monday, September 18th. Roth Mkm initiated coverage on shares of Globus Medical in a research report on Friday, October 20th. They set a “buy” rating and a $75.00 price target for the company. TheStreet downgraded shares of Globus Medical from a “b-” rating to a “c+” rating in a research report on Thursday, August 31st. Truist Financial reduced their price target on shares of Globus Medical from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. Finally, Barclays upped their price target on shares of Globus Medical from $77.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th.

Globus Medical Trading Down 0.9 %

GMED stock opened at $43.78 on Tuesday. The company’s 50-day simple moving average is $49.90 and its 200-day simple moving average is $54.70. The company has a quick ratio of 2.36, a current ratio of 4.47 and a debt-to-equity ratio of 0.10. Globus Medical has a 52-week low of $43.38 and a 52-week high of $80.04. The firm has a market cap of $4.40 billion, a P/E ratio of 28.25, a PEG ratio of 1.66 and a beta of 1.10.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 7th. The medical device company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Globus Medical had a net margin of 12.88% and a return on equity of 9.79%. The business had revenue of $383.60 million for the quarter, compared to analyst estimates of $306.78 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 51.0% on a year-over-year basis. As a group, equities analysts forecast that Globus Medical will post 2.31 EPS for the current fiscal year.

Institutional Trading of Globus Medical

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Globus Medical by 91.2% during the 1st quarter. American Century Companies Inc. now owns 6,507 shares of the medical device company’s stock worth $480,000 after buying an additional 3,104 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Globus Medical by 33.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,578 shares of the medical device company’s stock worth $1,150,000 after buying an additional 3,913 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Globus Medical by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,964 shares of the medical device company’s stock worth $2,137,000 after buying an additional 2,758 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Globus Medical by 0.7% during the 1st quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock worth $542,124,000 after buying an additional 48,913 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Globus Medical by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 42,930 shares of the medical device company’s stock worth $3,255,000 after buying an additional 3,211 shares during the last quarter. Institutional investors and hedge funds own 80.54% 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. It 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 pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.