Roth Mkm Increases Globus Medical (NYSE:GMED) Price Target to $115.00

Globus Medical (NYSE:GMED) had its price target raised by investment analysts at Roth Mkm from $100.00 to $115.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical device company’s stock. Roth Mkm’s price target indicates a potential upside of 40.62% from the stock’s previous close.

GMED has been the topic of several other reports. BTIG Research lifted their price target on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. 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. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Wells Fargo & Company boosted their price target on Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Bank of America increased their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and a consensus target price of $94.55.

Globus Medical Stock Down 2.0 %

Globus Medical stock opened at $81.78 on Tuesday. The firm has a market cap of $11.14 billion, a P/E ratio of 122.06, a P/E/G ratio of 1.99 and a beta of 1.19. The business has a fifty day moving average of $79.54 and a two-hundred day moving average of $73.17. Globus Medical has a twelve month low of $49.33 and a twelve month high of $87.22.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the prior year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. Equities analysts expect that Globus Medical will post 2.97 earnings per share for the current year.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock valued at $7,674,950 over the last ninety days. Company insiders own 18.54% of the company’s stock.

Institutional Trading of Globus Medical

A number of institutional investors and hedge funds have recently made changes to their positions in GMED. V Square Quantitative Management LLC purchased a new stake in Globus Medical in the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the second quarter valued at about $33,000. Quarry LP increased its stake in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Globus Medical in the 2nd quarter valued at about $52,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Globus Medical Company Profile

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.