Globus Medical (GMED) Downgraded to Hold at ValuEngine
ValuEngine downgraded shares of Globus Medical (NYSE:GMED) from a buy rating to a hold rating in a report published on Friday.
Other equities analysts have also recently issued research reports about the company. BTIG Research started coverage on Globus Medical in a research report on Thursday, September 7th. They set a buy rating and a $37.00 price objective for the company. Gabelli reissued a buy rating on shares of Globus Medical in a research report on Friday, August 4th. Canaccord Genuity reissued a buy rating and set a $37.00 price objective on shares of Globus Medical in a research report on Friday, August 18th. Piper Jaffray Companies reissued a buy rating on shares of Globus Medical in a research report on Thursday, October 19th. Finally, BidaskClub raised Globus Medical from a hold rating to a buy rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $35.00.
Globus Medical (NYSE:GMED) traded down $0.39 on Friday, hitting $37.62. The stock had a trading volume of 656,219 shares, compared to its average volume of 786,659. Globus Medical has a 52 week low of $21.64 and a 52 week high of $38.85. The company has a market cap of $3,630.00, a P/E ratio of 30.41, a PEG ratio of 2.96 and a beta of 0.54.
Globus Medical (NYSE:GMED) last posted 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 return on equity of 13.67% and a net margin of 17.54%. 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 firm earned $0.29 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. sell-side analysts forecast that Globus Medical will post 1.27 EPS for the current fiscal year.
In other Globus Medical news, insider A Brett Murphy sold 51,449 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was 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 owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 28.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Globus Medical by 0.8% in the 2nd quarter. BlackRock Inc. now owns 7,448,420 shares of the medical device company’s stock valued at $246,914,000 after acquiring an additional 61,138 shares in the last quarter. Vanguard Group Inc. raised its holdings in Globus Medical by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock valued at $189,355,000 after acquiring an additional 76,345 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Globus Medical by 18.6% in the 3rd quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock valued at $94,554,000 after acquiring an additional 498,187 shares in the last quarter. State Street Corp raised its holdings in Globus Medical by 5.8% in the 2nd quarter. State Street Corp now owns 2,376,667 shares of the medical device company’s stock valued at $78,789,000 after acquiring an additional 129,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Globus Medical by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,843,340 shares of the medical device company’s stock valued at $54,784,000 after acquiring an additional 32,034 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.
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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.
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