Globus Medical (NYSE:GMED) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Tuesday. The brokerage currently has a $48.00 target price on the medical device company’s stock. Morgan Stanley’s price objective suggests a potential upside of 11.89% from the stock’s previous close.

Several other equities research analysts have also recently commented on GMED. BidaskClub raised Globus Medical from a “sell” rating to a “hold” rating in a research note on Saturday, October 7th. Wells Fargo & Co raised Globus Medical from a “market perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Monday, December 4th. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 target price on shares of Globus Medical in a research note on Friday, September 22nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Globus Medical in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $38.86.

Globus Medical (NYSE GMED) opened at $42.90 on Tuesday. Globus Medical has a 1 year low of $24.70 and a 1 year high of $43.55. The stock has a market capitalization of $4,160.55, a PE ratio of 39.00, a PEG ratio of 3.04 and a beta of 0.56.

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

In other Globus Medical news, CAO Steven Payne sold 3,076 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.30, for a total value of $120,886.80. Following the completion of the sale, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider A Brett Murphy sold 51,449 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the completion of the sale, the insider now directly owns 49,768 shares of the company’s stock, valued at approximately $1,741,880. The disclosure for this sale can be found here. Insiders have sold 124,908 shares of company stock valued at $4,747,975 in the last ninety days. 28.21% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Globus Medical by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock valued at $100,000 after buying an additional 35 shares during the last quarter. Sei Investments Co. boosted its position in shares of Globus Medical by 18.9% during the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock valued at $105,000 after buying an additional 503 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Globus Medical by 2.0% during the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock valued at $114,000 after buying an additional 68 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Globus Medical during the third quarter valued at approximately $177,000. Finally, Victory Capital Management Inc. boosted its position in shares of Globus Medical by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the medical device company’s stock valued at $179,000 after buying an additional 808 shares during the last quarter. 70.23% 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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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