Shares of Globus Medical Inc (NYSE:GMED) have been assigned an average recommendation of “Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $55.92.

GMED has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Globus Medical from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. UBS Group initiated coverage on shares of Globus Medical in a research report on Wednesday, November 28th. They issued a “neutral” rating and a $55.00 price objective on the stock. Zacks Investment Research upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, August 14th. ValuEngine lowered shares of Globus Medical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 28th. Finally, Cantor Fitzgerald set a $65.00 price objective on shares of Globus Medical and gave the company a “buy” rating in a research report on Tuesday, November 13th.

NYSE:GMED opened at $45.79 on Monday. Globus Medical has a 1-year low of $38.01 and a 1-year high of $57.83. The firm has a market capitalization of $4.51 billion, a P/E ratio of 34.95, a PEG ratio of 2.20 and a beta of 0.64.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, November 8th. The medical device company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Globus Medical had a net margin of 20.79% and a return on equity of 15.36%. The firm had revenue of $169.20 million for the quarter, compared to analyst estimates of $167.47 million. During the same period last year, the firm posted $0.30 EPS. Globus Medical’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Globus Medical will post 1.62 earnings per share for the current year.

In other Globus Medical news, insider David C. Paul sold 2,053,330 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $54.26, for a total transaction of $111,413,685.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.44% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace North America L.P. boosted its position in shares of Globus Medical by 153.1% during the 3rd quarter. Marshall Wace North America L.P. now owns 67,043 shares of the medical device company’s stock worth $3,805,000 after purchasing an additional 40,550 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Globus Medical during the 3rd quarter worth $48,854,000. Vanguard Group Inc. boosted its position in shares of Globus Medical by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,735,494 shares of the medical device company’s stock worth $382,306,000 after purchasing an additional 219,780 shares in the last quarter. Kepos Capital LP purchased a new stake in shares of Globus Medical during the 3rd quarter worth $748,000. Finally, Standard Life Aberdeen plc raised its stake in shares of Globus Medical by 3.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,234,557 shares of the medical device company’s stock worth $70,074,000 after buying an additional 39,338 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

Further Reading: Risk Tolerance and Your Investment Decisions

Analyst Recommendations for Globus Medical (NYSE:GMED)

Receive News & Ratings for Globus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globus Medical and related companies with MarketBeat.com's FREE daily email newsletter.