Globus Medical’s (GMED) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Globus Medical (NYSE:GMED) in a research report report published on Tuesday,Benzinga reports.

A number of other equities analysts also recently weighed in on the stock. Barclays lifted their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Stifel Nicolaus lifted their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Truist Financial upped their target price on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Wells Fargo & Company dropped their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Trading Up 0.7 %

NYSE GMED opened at $73.86 on Tuesday. Globus Medical has a 12 month low of $49.33 and a 12 month high of $94.93. The firm has a market capitalization of $10.16 billion, a PE ratio of 98.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The business’s 50-day moving average price is $83.88 and its two-hundred day moving average price is $79.71.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. As a group, analysts forecast that Globus Medical will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GMED. SBI Securities Co. Ltd. purchased a new position in Globus Medical during the fourth quarter worth about $27,000. Quarry LP lifted its position in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock valued at $55,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 95.16% 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. 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.