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

Key Points

• Globus Medical, Inc. has received an average rating of "Moderate Buy" from 14 brokerages, with a 12-month price target of $87.27.
• Insider activity was noted as Director Ann D. Rhoads sold 10,000 shares for approximately $584,600, reducing her ownership by 28.26%.
• Institutional investors own 95.16% of Globus Medical's stock, indicating strong confidence among large investors.

Globus Medical, Inc. (NYSE:GMED - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $87.2727.

Several equities research analysts have recently commented on GMED shares. Wells Fargo & Company reduced their price objective on Globus Medical from $76.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Globus Medical in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Monday, July 21st. Royal Bank Of Canada set a $88.00 price target on Globus Medical in a research note on Friday. Finally, Morgan Stanley cut their price target on Globus Medical from $75.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 10,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the completion of the transaction, the director owned 25,384 shares in the company, valued at $1,483,948.64. This trade represents a 28.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 18.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Globus Medical by 74.3% during the second quarter. EverSource Wealth Advisors LLC now owns 462 shares of the medical device company's stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Globus Medical during the second quarter valued at about $28,000. Farther Finance Advisors LLC grew its position in shares of Globus Medical by 145.5% during the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company's stock valued at $32,000 after purchasing an additional 393 shares in the last quarter. Finally, CENTRAL TRUST Co purchased a new position in shares of Globus Medical during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Price Performance

NYSE:GMED opened at $57.53 on Tuesday. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12. Globus Medical has a one year low of $51.79 and a one year high of $94.93. The business has a fifty day moving average price of $58.85 and a 200-day moving average price of $61.16.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. The firm had revenue of $745.34 million during the quarter, compared to analyst estimates of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.Globus Medical's revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. On average, equities research analysts expect that Globus Medical will post 3.44 earnings per share for the current fiscal year.

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.

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