Globus Medical (NYSE:GMED – Get Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
GMED has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Truist Financial raised their target price on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Bank of America raised their target price on shares of Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, November 6th. Piper Sandler raised their target price on shares of Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.18.
View Our Latest Research Report on Globus Medical
Globus Medical Stock Down 1.0 %
Globus Medical (NYSE:GMED – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue was up 63.1% on a year-over-year basis. Equities analysts anticipate that Globus Medical will post 2.98 earnings per share for the current fiscal year.
Insider Buying and Selling at Globus Medical
In related news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock valued at $8,512,850. Corporate insiders own 18.54% of the company’s stock.
Institutional Trading of Globus Medical
Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Globus Medical during the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Globus Medical in the 2nd quarter valued at $33,000. Farther Finance Advisors LLC boosted its stake in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Globus Medical in the 2nd quarter valued at $52,000. Institutional investors own 95.16% of the company’s stock.
About Globus Medical
Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.
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