Globus Medical, Inc. (NYSE:GMED) has been assigned a $27.00 price objective by stock analysts at Canaccord Genuity in a report issued on Wednesday. The firm presently has a “hold” rating on the medical device company’s stock. Canaccord Genuity’s target price points to a potential upside of 1.31% from the company’s previous close.

A number of other brokerages also recently issued reports on GMED. Zacks Investment Research raised shares of Globus Medical from a “sell” rating to a “hold” rating in a research report on Tuesday. Leerink Swann reissued a “hold” rating and set a $23.00 price objective on shares of Globus Medical in a research report on Wednesday, November 9th. Oppenheimer Holdings, Inc. downgraded shares of Globus Medical from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $29.00 to $23.00 in a research report on Wednesday, November 9th. William Blair downgraded shares of Globus Medical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 9th. Finally, Citigroup Inc. downgraded shares of Globus Medical to a “market perform” rating and cut their price objective for the company from $29.00 to $23.00 in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.00.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Shares of Globus Medical (NYSE:GMED) traded up 3.00% on Wednesday, hitting $27.45. The stock had a trading volume of 518,949 shares. The stock has a market cap of $2.63 billion, a PE ratio of 22.50 and a beta of 0.62. The company has a 50 day moving average price of $24.00 and a 200-day moving average price of $23.26. Globus Medical has a 12 month low of $19.25 and a 12 month high of $27.50.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 8th. The medical device company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Globus Medical had a net margin of 21.20% and a return on equity of 14.92%. The firm earned $135.70 million during the quarter, compared to the consensus estimate of $139.25 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Globus Medical will post $1.20 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMED. BNP Paribas Arbitrage SA boosted its position in Globus Medical by 85.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,852 shares of the medical device company’s stock worth $116,000 after buying an additional 2,231 shares during the period. Nordea Investment Management AB boosted its stake in shares of Globus Medical by 1,039.6% in the second quarter. Nordea Investment Management AB now owns 16,262 shares of the medical device company’s stock valued at $388,000 after buying an additional 14,835 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Globus Medical during the second quarter valued at approximately $9,257,000. Stoneridge Investment Partners LLC bought a new stake in shares of Globus Medical during the second quarter valued at approximately $1,223,000. Finally, Falcon Point Capital LLC boosted its stake in shares of Globus Medical by 2.0% in the second quarter. Falcon Point Capital LLC now owns 489,734 shares of the medical device company’s stock valued at $11,670,000 after buying an additional 9,585 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Globus Medical Company Profile

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.

5 Day Chart for NYSE:GMED

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