BTIG Research Analysts Give Globus Medical (GMED) a $45.00 Price Target

BTIG Research set a $45.00 target price on Globus Medical (NYSE:GMED) in a report issued on Tuesday, January 2nd. The firm currently has a buy rating on the medical device company’s stock.

Other research analysts have also issued research reports about the company. BidaskClub raised Globus Medical from a hold rating to a buy rating in a report on Tuesday, November 14th. Bank of America raised Globus Medical from an underperform rating to a neutral rating in a report on Friday, November 10th. ValuEngine lowered Globus Medical from a buy rating to a hold rating in a report on Friday, December 1st. Needham & Company LLC reissued a hold rating on shares of Globus Medical in a report on Thursday, November 9th. Finally, Zacks Investment Research lowered Globus Medical from a hold rating to a sell rating in a report on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $40.57.

Globus Medical (GMED) traded down $1.39 during midday trading on Tuesday, reaching $44.30. 998,100 shares of the company traded hands, compared to its average volume of 905,714. Globus Medical has a twelve month low of $25.66 and a twelve month high of $46.51. The firm has a market cap of $4,270.00, a P/E ratio of 40.27, a P/E/G ratio of 3.11 and a beta of 0.56.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, November 8th. The medical device company reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. Globus Medical had a return on equity of 13.67% and a net margin of 17.54%. The company had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $150.73 million. During the same period in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. analysts forecast that Globus Medical will post 1.27 EPS for the current fiscal year.

In other Globus Medical news, CAO Steven Payne sold 3,076 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the transaction, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider A Brett Murphy sold 51,449 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,908 shares of company stock worth $4,747,975. 28.21% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after purchasing an additional 35 shares during the period. Sei Investments Co. raised its stake in Globus Medical by 18.9% during the 2nd quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after purchasing an additional 503 shares during the period. Advisor Group Inc. raised its stake in Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after purchasing an additional 68 shares during the period. Victory Capital Management Inc. raised its stake in Globus Medical by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after purchasing an additional 808 shares during the period. Finally, Citigroup Inc. raised its stake in Globus Medical by 2.8% during the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock valued at $197,000 after purchasing an additional 161 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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