Globus Medical Inc (GMED) Receives Average Rating of “Hold” from Analysts
Shares of Globus Medical Inc (NYSE:GMED) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.20.
A number of research analysts have recently issued reports on GMED shares. BidaskClub raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating in a research note on Friday, November 10th. ValuEngine downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BTIG Research reaffirmed a “buy” rating and set a $37.00 price target on shares of Globus Medical in a research note on Thursday, November 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Thursday, November 9th.
In other news, Director David D. Davidar sold 55,383 shares of Globus Medical stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.66, for a total transaction of $2,251,872.78. Following the completion of the transaction, the director now directly owns 752,236 shares in the company, valued at $30,585,915.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider A Brett Murphy sold 51,449 shares of Globus Medical stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,800,715.00. Following the transaction, the insider now owns 49,768 shares of the company’s stock, valued at $1,741,880. The disclosure for this sale can be found here. Insiders have sold 124,908 shares of company stock valued at $4,747,975 over the last quarter. Company insiders own 28.21% of the company’s stock.
Shares of Globus Medical (NYSE GMED) opened at $40.40 on Monday. Globus Medical has a 52-week low of $24.24 and a 52-week high of $41.70. The stock has a market capitalization of $3,890.00, a P/E ratio of 36.73, a PEG ratio of 3.04 and a beta of 0.58.
Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. equities research analysts predict that Globus Medical will post 1.27 EPS for the current fiscal year.
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About Globus Medical
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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