Analysts Set Globus Medical, Inc. (NYSE:GMED) PT at $73.30

Shares of Globus Medical, Inc. (NYSE:GMED) have been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $73.30.

A number of research analysts recently issued reports on GMED shares. Barclays increased their price objective on Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Stifel Nicolaus increased their price objective on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Piper Sandler upgraded Globus Medical from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $80.00 in a report on Monday, May 20th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, May 8th. Finally, BTIG Research increased their price objective on Globus Medical from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 15th.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $71.73 on Friday. Globus Medical has a 1 year low of $43.38 and a 1 year high of $74.16. The business has a 50-day moving average of $68.07 and a two-hundred day moving average of $58.83. The company has a market capitalization of $9.71 billion, a P/E ratio of 112.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. The business had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. Globus Medical’s quarterly revenue was up 119.3% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts anticipate that Globus Medical will post 2.82 EPS for the current fiscal year.

Insider Activity at Globus Medical

In other news, Director David D. Davidar sold 20,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the director now directly owns 566,275 shares in the company, valued at approximately $36,807,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Dan Lemaitre sold 63,300 shares of Globus Medical stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David D. Davidar sold 20,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the transaction, the director now owns 566,275 shares of the company’s stock, valued at $36,807,875. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,300 shares of company stock valued at $5,459,813. Insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Pictet & Cie Europe AG boosted its stake in Globus Medical by 8.8% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 9,504 shares of the medical device company’s stock valued at $651,000 after purchasing an additional 768 shares during the period. Banque Pictet & Cie SA boosted its stake in Globus Medical by 21.8% in the 2nd quarter. Banque Pictet & Cie SA now owns 149,678 shares of the medical device company’s stock valued at $10,251,000 after purchasing an additional 26,800 shares during the period. Xcel Wealth Management LLC boosted its stake in Globus Medical by 16.1% in the 2nd quarter. Xcel Wealth Management LLC now owns 13,774 shares of the medical device company’s stock valued at $943,000 after purchasing an additional 1,914 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Globus Medical in the 2nd quarter valued at $249,000. Finally, Legacy Capital Group California Inc. bought a new stake in Globus Medical in the 2nd quarter valued at $206,000. 95.16% 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. 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.