Globus Medical (NYSE:GMED)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a report released on Wednesday, The Fly reports. They currently have a $51.00 target price on the medical device company’s stock, up from their prior target price of $46.00. Wells Fargo & Co’s target price would suggest a potential upside of 16.81% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating in a research report on Friday, November 10th. Gabelli reaffirmed a “buy” rating on shares of Globus Medical in a research report on Tuesday, November 14th. Finally, Barclays raised their target price on shares of Globus Medical from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.57.

Shares of Globus Medical (NYSE:GMED) traded down $0.24 on Wednesday, reaching $43.66. 695,406 shares of the company’s stock traded hands, compared to its average volume of 666,171. The stock has a market cap of $4,207.78, a PE ratio of 39.69, a P/E/G ratio of 2.92 and a beta of 0.56. Globus Medical has a fifty-two week low of $25.67 and a fifty-two week high of $46.51.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Wednesday, November 8th. The medical device company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ 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 prior year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. analysts expect that Globus Medical will post 1.27 EPS for the current year.

In related news, insider A Brett Murphy sold 51,449 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Steven Payne sold 3,076 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $39.30, for a total transaction of $120,886.80. Following the completion of the transaction, the chief accounting officer now owns 23,847 shares of the company’s stock, valued at $937,187.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,908 shares of company stock valued at $4,747,975. Corporate insiders own 28.21% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Globus Medical by 0.3% in 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 in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Globus Medical by 1.2% in 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 in the last quarter. Advisor Group Inc. increased its stake in shares of Globus Medical by 2.0% in 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 in the last quarter. 1st Global Advisors Inc. increased its stake in shares of Globus Medical by 1.2% in 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 in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Globus Medical by 2.8% in the 2nd quarter. Citigroup Inc. now owns 5,950 shares of the medical device company’s stock worth $197,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Globus Medical (NYSE:GMED)

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