Globus Medical (GMED) Downgraded by ValuEngine

ValuEngine lowered shares of Globus Medical (NYSE:GMED) from a buy rating to a hold rating in a research report report published on Friday morning.

Other analysts also recently issued reports about the company. BTIG Research started coverage on Globus Medical in a report on Thursday, September 7th. They issued a buy rating and a $37.00 price objective for the company. Gabelli restated a buy rating on shares of Globus Medical in a report on Friday, August 4th. Canaccord Genuity restated a buy rating and issued a $37.00 price objective on shares of Globus Medical in a report on Friday, August 18th. Piper Jaffray Companies restated a buy rating on shares of Globus Medical in a report on Thursday, October 19th. Finally, BidaskClub upgraded Globus Medical from a hold rating to a buy rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Globus Medical has a consensus rating of Hold and a consensus target price of $36.83.

Globus Medical (GMED) traded down $0.39 during trading hours on Friday, hitting $37.62. The stock had a trading volume of 656,200 shares, compared to its average volume of 681,056. Globus Medical has a fifty-two week low of $21.64 and a fifty-two week high of $38.85. The company has a market capitalization of $3,625.67, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 2.93 and a beta of 0.58.

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

In other Globus Medical news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total value of $449,850.00. Following the completion of the transaction, the insider now directly owns 101,217 shares in the company, valued at $3,035,497.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 28.21% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Globus Medical by 19.9% in the second quarter. SG Americas Securities LLC now owns 47,862 shares of the medical device company’s stock worth $1,587,000 after purchasing an additional 7,937 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Globus Medical by 26.2% in the second quarter. Goldman Sachs Group Inc. now owns 166,090 shares of the medical device company’s stock worth $5,505,000 after purchasing an additional 34,513 shares in the last quarter. Vanguard Group Inc. raised its holdings in Globus Medical by 1.4% in the second quarter. Vanguard Group Inc. now owns 5,712,043 shares of the medical device company’s stock worth $189,355,000 after purchasing an additional 76,345 shares in the last quarter. AJO LP bought a new position in Globus Medical in the second quarter worth about $1,262,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Globus Medical by 20.8% during the second quarter. Russell Investments Group Ltd. now owns 165,030 shares of the medical device company’s stock worth $5,471,000 after acquiring an additional 28,437 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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About Globus Medical

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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