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

Globus Medical, Inc. (NYSE:GMED) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $96.91.

GMED has been the topic of several analyst reports. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Stifel Nicolaus increased their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Truist Financial raised their price target on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Thursday, February 6th. Finally, Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th.

Globus Medical Stock Down 0.2 %

NYSE GMED opened at $87.41 on Thursday. The firm’s 50 day moving average is $86.56 and its 200-day moving average is $78.20. The company has a market capitalization of $11.90 billion, a PE ratio of 130.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93.

Insider Transactions at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Globus Medical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its position in shares of Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after buying an additional 131 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after acquiring an additional 132 shares during the period. US Bancorp DE raised its holdings in Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after acquiring an additional 135 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Globus Medical by 3.4% during the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after acquiring an additional 138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.