Globus Medical (NYSE:GMED) Lowered to “Hold” Rating by StockNews.com

Globus Medical (NYSE:GMED) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities analysts also recently commented on GMED. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $97.00 in a research note on Thursday, January 9th. Wells Fargo & Company raised their price target on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price objective on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Down 0.4 %

Shares of GMED stock opened at $87.60 on Thursday. The firm has a 50 day moving average of $86.52 and a two-hundred day moving average of $78.03. The stock has a market capitalization of $11.93 billion, a PE ratio of 130.75, a P/E/G ratio of 1.78 and a beta of 1.19. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same period last year, the business posted $0.57 earnings per share. Globus Medical’s revenue was up 63.1% compared to the same quarter last year. Analysts expect that Globus Medical will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’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 value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globus Medical

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the 4th quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in Globus Medical in the third quarter valued at about $27,000. Quarry LP lifted its position in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. increased its position in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.