Globus Medical (NYSE:GMED) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 8th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.
NYSE:GMED opened at $54.58 on Tuesday. The stock has a market cap of $5.37 billion, a P/E ratio of 41.66, a PEG ratio of 2.80 and a beta of 0.65. Globus Medical has a 52-week low of $30.89 and a 52-week high of $57.55.
GMED has been the topic of a number of research analyst reports. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, August 3rd. Morgan Stanley lifted their target price on Globus Medical from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Oppenheimer set a $57.00 target price on Globus Medical and gave the stock a “hold” rating in a report on Thursday, August 2nd. Finally, Needham & Company LLC lifted their target price on Globus Medical from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.73.
In related news, Chairman David C. Paul sold 707,191 shares of Globus Medical stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $54.01, for a total value of $38,195,385.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 28.44% of the company’s stock.
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About Globus Medical
Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.
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