Zacks Investment Research upgraded shares of Globus Medical, Inc. (NYSE:GMED) from a sell rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania. “

Several other research firms have also recently commented on GMED. BidaskClub upgraded Globus Medical from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. set a $32.00 target price on Globus Medical and gave the stock a hold rating in a research report on Thursday, May 4th. Morgan Stanley restated an equal weight rating on shares of Globus Medical in a research report on Tuesday, July 11th. Barclays PLC restated a sell rating and set a $30.00 target price on shares of Globus Medical in a research report on Friday, May 5th. Finally, Canaccord Genuity upgraded Globus Medical from a hold rating to a buy rating and boosted their target price for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $28.89.

Shares of Globus Medical (NYSE GMED) opened at 32.34 on Wednesday. The company has a market capitalization of $3.11 billion, a P/E ratio of 29.67 and a beta of 0.62. The company’s 50 day moving average price is $32.08 and its 200 day moving average price is $28.83. Globus Medical has a 12 month low of $19.25 and a 12 month high of $34.03.

Globus Medical (NYSE:GMED) last posted its earnings results on Wednesday, May 3rd. The medical device company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Globus Medical had a return on equity of 14.15% and a net margin of 18.09%. The business had revenue of $155.81 million during the quarter. Analysts expect that Globus Medical will post $1.27 EPS for the current fiscal year.

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In other Globus Medical news, President Anthony L. Williams sold 16,153 shares of Globus Medical stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $31.94, for a total transaction of $515,926.82. Following the completion of the sale, the president now owns 16,153 shares of the company’s stock, valued at $515,926.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 28.21% of the company’s stock.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in Globus Medical by 22,983.1% in the first quarter. BlackRock Inc. now owns 7,387,282 shares of the medical device company’s stock worth $218,812,000 after buying an additional 7,355,279 shares during the period. Vanguard Group Inc. raised its stake in Globus Medical by 4.5% in the first quarter. Vanguard Group Inc. now owns 5,635,698 shares of the medical device company’s stock worth $166,929,000 after buying an additional 240,257 shares during the period. Bank of New York Mellon Corp raised its stake in Globus Medical by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 2,629,315 shares of the medical device company’s stock worth $77,878,000 after buying an additional 58,811 shares during the period. State Street Corp raised its stake in Globus Medical by 3.6% in the first quarter. State Street Corp now owns 2,246,728 shares of the medical device company’s stock worth $66,545,000 after buying an additional 77,604 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Globus Medical by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,831,360 shares of the medical device company’s stock worth $54,244,000 after buying an additional 44,421 shares during the period. 68.91% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Globus Medical (NYSE:GMED)

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