Globus Medical, Inc. (NYSE:GMED) Receives Consensus Rating of “Moderate Buy” from Brokerages

Globus Medical, Inc. (NYSE:GMED) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $100.1818.

GMED has been the topic of a number of recent analyst reports. Needham & Company LLC raised Globus Medical from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Friday, January 30th. Royal Bank Of Canada upped their target price on Globus Medical from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Wells Fargo & Company raised their price target on Globus Medical from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Citigroup restated a “market perform” rating on shares of Globus Medical in a report on Thursday, January 8th. Finally, Stifel Nicolaus started coverage on shares of Globus Medical in a report on Tuesday, October 28th. They set a “hold” rating and a $64.00 price objective on the stock.

Insiders Place Their Bets

In other Globus Medical news, CFO Kyle Kline sold 18,542 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $90.00, for a total transaction of $1,668,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,636 shares of company stock valued at $2,909,333 over the last quarter. Company insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GMED. Bank of Montreal Can lifted its position in Globus Medical by 15,317.1% during the 4th quarter. Bank of Montreal Can now owns 3,373,260 shares of the medical device company’s stock worth $294,519,000 after acquiring an additional 3,351,380 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Globus Medical by 1,303.9% during the third quarter. Alliancebernstein L.P. now owns 2,055,183 shares of the medical device company’s stock valued at $117,700,000 after purchasing an additional 1,908,795 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Globus Medical during the third quarter worth $67,891,000. Norges Bank acquired a new position in shares of Globus Medical during the second quarter worth $68,038,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Globus Medical in the fourth quarter valued at $90,411,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Up 0.9%

NYSE:GMED opened at $88.05 on Monday. Globus Medical has a 12-month low of $51.79 and a 12-month high of $101.40. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. The company’s 50-day moving average is $89.68 and its two-hundred day moving average is $74.04.

Globus Medical Company Profile

Globus Medical, Inc (NYSE:GMED) is a leading medical device company specializing in musculoskeletal solutions for spine and orthopaedic applications. Founded in 2003 by David C. Paul and headquartered in Audubon, Pennsylvania, the company develops, manufactures and markets implantable devices and surgical instruments designed to treat spinal disorders and promote bone healing. Its product portfolio encompasses solutions for minimally invasive and open surgical procedures, including interbody fusion devices, pedicle screw systems, and biologics used to enhance fusion outcomes.

In addition to its core spine business, Globus Medical has expanded into robotics and navigation systems to support precision and efficiency in the operating room.