Globus Medical, Inc. (NYSE:GMED) Receives Average Rating of "Moderate Buy" from Brokerages

Globus Medical, Inc. (NYSE:GMED - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twelve analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $96.91.

Several equities research analysts recently issued reports on the company. StockNews.com cut Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Bank of America upgraded Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Barclays raised their target price on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th.

Hedge Funds Weigh In On Globus Medical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Globus Medical by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock valued at $898,548,000 after acquiring an additional 240,218 shares during the period. JPMorgan Chase & Co. increased its stake in Globus Medical by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock valued at $231,946,000 after purchasing an additional 199,556 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in Globus Medical by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,618,108 shares of the medical device company's stock valued at $216,544,000 after purchasing an additional 43,330 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Globus Medical by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,897,212 shares of the medical device company's stock valued at $156,969,000 after buying an additional 12,151 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in shares of Globus Medical by 13.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock worth $150,188,000 after acquiring an additional 217,707 shares during the period. Institutional investors own 95.16% of the company's stock.

Globus Medical Price Performance

GMED stock traded down $0.21 during midday trading on Tuesday, hitting $72.86. The company's stock had a trading volume of 629,024 shares, compared to its average volume of 1,039,615. The company's fifty day moving average price is $74.30 and its 200 day moving average price is $80.02. Globus Medical has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a market capitalization of $10.02 billion, a P/E ratio of 97.15, a PEG ratio of 1.61 and a beta of 1.28.

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

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.