Globus Medical (NYSE:GMED – Get Free Report) is set to release its earnings data after the market closes on Tuesday, February 20th. Analysts expect Globus Medical to post earnings of $0.58 per share for the quarter.
Globus Medical Stock Down 0.1 %
GMED opened at $52.29 on Tuesday. Globus Medical has a 12 month low of $43.38 and a 12 month high of $62.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.47 and a quick ratio of 2.36. The stock has a market cap of $7.21 billion, a P/E ratio of 33.74, a P/E/G ratio of 1.73 and a beta of 1.10. The stock’s 50 day moving average price is $52.53 and its 200 day moving average price is $51.58.
Analyst Upgrades and Downgrades
Several research firms recently commented on GMED. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. Truist Financial lifted their price target on Globus Medical from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Roth Mkm started coverage on Globus Medical in a research note on Friday, October 20th. They set a “buy” rating and a $75.00 price objective for the company. Canaccord Genuity Group raised their price objective on Globus Medical from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Morgan Stanley reduced their price objective on Globus Medical from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.11.
Hedge Funds Weigh In On Globus Medical
Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new position in Globus Medical during the fourth quarter valued at about $28,000. Quarry LP bought a new position in shares of Globus Medical in the first quarter worth about $27,000. Advisory Services Network LLC increased its stake in shares of Globus Medical by 109.6% in the first quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock worth $28,000 after purchasing an additional 263 shares during the period. Covestor Ltd increased its stake in shares of Globus Medical by 86.5% in the first quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock worth $58,000 after purchasing an additional 364 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of Globus Medical in the fourth quarter worth about $94,000. 80.54% of the stock is currently owned by institutional investors.
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.
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