Stifel Nicolaus Boosts Globus Medical (NYSE:GMED) Price Target to $94.00

Globus Medical (NYSE:GMED) had its price target lifted by Stifel Nicolaus from $92.00 to $94.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

A number of other research firms have also weighed in on GMED. Piper Sandler lifted their price objective on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Roth Mkm lifted their price objective on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Canaccord Genuity Group lifted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Stock Performance

Shares of GMED opened at $80.43 on Friday. The stock has a 50-day moving average of $86.76 and a two-hundred day moving average of $78.94. Globus Medical has a one year low of $49.33 and a one year high of $94.93. The stock has a market cap of $10.95 billion, a P/E ratio of 120.04, a P/E/G ratio of 1.60 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Analysts predict that Globus Medical will post 2.98 EPS for the current fiscal year.

Insider Activity at Globus Medical

In related news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globus Medical

Institutional investors have recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Globus Medical by 5.1% during the 3rd quarter. Creative Planning now owns 6,471 shares of the medical device company’s stock worth $463,000 after purchasing an additional 314 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Globus Medical by 8.5% during the 3rd quarter. Raymond James & Associates now owns 299,294 shares of the medical device company’s stock worth $21,411,000 after purchasing an additional 23,349 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Globus Medical by 16.4% during the 3rd quarter. Private Advisor Group LLC now owns 4,236 shares of the medical device company’s stock worth $303,000 after purchasing an additional 598 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Globus Medical by 7,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 56,230 shares of the medical device company’s stock worth $40,230,000 after purchasing an additional 55,472 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Globus Medical by 3.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 54,023 shares of the medical device company’s stock worth $3,865,000 after purchasing an additional 1,558 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.