Globus Medical (NYSE:GMED) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Globus Medical (NYSE:GMED) from a hold rating to a buy rating in a research report released on Friday.

GMED has been the topic of several other research reports. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Royal Bank of Canada increased their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their target price on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Stifel Nicolaus increased their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, BTIG Research increased their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical Trading Down 0.2 %

Shares of NYSE GMED opened at $83.99 on Friday. The stock has a market capitalization of $11.44 billion, a PE ratio of 125.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock’s fifty day simple moving average is $86.63 and its two-hundred day simple moving average is $78.48. Globus Medical has a 12-month low of $49.33 and a 12-month high of $94.93.

Insiders Place Their Bets

In other Globus Medical news, 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 transaction of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globus Medical

A number of institutional investors have recently modified their holdings of GMED. V Square Quantitative Management LLC purchased a new position in shares of Globus Medical during the 3rd quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in shares of Globus Medical during the 4th quarter valued at about $27,000. Quarry LP raised its stake 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 valued at $35,000 after buying an additional 433 shares during the last quarter. 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 valued at $39,000 after buying an additional 385 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors 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.