Globus Medical, Inc. (NYSE:GMED) Given Average Rating of “Moderate Buy” by Brokerages

Globus Medical, Inc. (NYSE:GMED) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $96.91.

A number of equities research analysts have weighed in on GMED shares. BTIG Research raised their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Canaccord Genuity Group raised their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Piper Sandler boosted their target price on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Institutional Trading of Globus Medical

Several large investors have recently modified their holdings of GMED. Thrivent Financial for Lutherans boosted its stake in Globus Medical by 16.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 678,492 shares of the medical device company’s stock worth $56,118,000 after acquiring an additional 95,435 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Globus Medical by 3.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,920 shares of the medical device company’s stock valued at $572,000 after purchasing an additional 200 shares during the period. one8zero8 LLC bought a new position in shares of Globus Medical during the 4th quarter worth about $376,000. Commonwealth Equity Services LLC grew its stake in shares of Globus Medical by 11.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,787 shares of the medical device company’s stock valued at $644,000 after buying an additional 831 shares during the period. Finally, Madison Asset Management LLC increased its position in Globus Medical by 33.5% in the 4th quarter. Madison Asset Management LLC now owns 51,330 shares of the medical device company’s stock valued at $4,246,000 after buying an additional 12,891 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 0.2 %

NYSE GMED opened at $87.41 on Thursday. The firm’s 50 day simple moving average is $86.56 and its 200 day simple moving average is $78.20. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 130.46, a P/E/G ratio of 1.68 and a beta of 1.19. Globus Medical has a 1 year low of $49.33 and a 1 year high of $94.93.

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.