ValuEngine upgraded shares of Globus Medical, Inc. (NYSE:GMED) from a hold rating to a buy rating in a report released on Friday morning.

Several other research firms have also commented on GMED. Barclays PLC reissued an underweight rating and issued a $28.00 target price (down from $30.00) on shares of Globus Medical in a report on Thursday, August 3rd. Bank of America Corporation raised shares of Globus Medical from an underperform rating to a neutral rating in a report on Friday. BidaskClub lowered shares of Globus Medical from a hold rating to a sell rating in a report on Monday, September 18th. Gabelli reissued a buy rating on shares of Globus Medical in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Globus Medical from a hold rating to a sell rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $34.00.

Shares of Globus Medical (NYSE:GMED) opened at $37.31 on Friday. Globus Medical has a 12 month low of $20.52 and a 12 month high of $37.37. The firm has a market cap of $3,460.70, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.80 and a beta of 0.55.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Globus Medical had a net margin of 17.54% and a return on equity of 13.67%. The business had revenue of $151.74 million during the quarter, compared to analysts’ expectations of $150.73 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s revenue was up 11.9% on a year-over-year basis. equities research analysts expect that Globus Medical will post 1.27 earnings per share for the current year.

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In related news, 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 sale, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.21% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Globus Medical by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after acquiring an additional 31 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings 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 worth $100,000 after acquiring an additional 35 shares during the last quarter. Alps Advisors Inc. grew its holdings in Globus Medical by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after acquiring an additional 45 shares during the last quarter. Advisor Group Inc. grew its holdings 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 worth $114,000 after acquiring an additional 68 shares during the last quarter. Finally, 1st Global Advisors Inc. grew its holdings in Globus Medical by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after acquiring an additional 130 shares during the last quarter. 65.59% of the stock is currently 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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