Globus Medical, Inc. (GMED) Given a $42.00 Price Target at BTIG Research

BTIG Research set a $42.00 price objective on Globus Medical, Inc. (NYSE:GMED) in a research report released on Monday morning. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other equities analysts also recently weighed in on GMED. BidaskClub downgraded shares of Globus Medical from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. set a $35.00 price objective on shares of Globus Medical and gave the stock a hold rating in a research report on Thursday, August 3rd. Barclays PLC reissued an underweight rating and issued a $28.00 price objective (down previously from $30.00) on shares of Globus Medical in a research report on Thursday, August 3rd. Gabelli reissued a buy rating on shares of Globus Medical in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Globus Medical from a hold rating to a sell rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $35.00.

Globus Medical (NYSE GMED) opened at $36.35 on Monday. The stock has a market cap of $3,520.00, a P/E ratio of 29.27, a P/E/G ratio of 2.85 and a beta of 0.54. Globus Medical has a one year low of $20.81 and a one year high of $38.04.

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

TRADEMARK VIOLATION WARNING: “Globus Medical, Inc. (GMED) Given a $42.00 Price Target at BTIG Research” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://sportsperspectives.com/2017/11/21/globus-medical-inc-gmed-given-a-42-00-price-target-at-btig-research.html.

In other news, insider A Brett Murphy sold 51,449 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $35.00, for a total value of $1,800,715.00. Following the transaction, the insider now directly owns 49,768 shares in the company, valued at approximately $1,741,880. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 28.21% of the company’s stock.

Large investors have recently modified their holdings of the stock. Argent Capital Management LLC increased its stake in Globus Medical by 247.6% during the 3rd quarter. Argent Capital Management LLC now owns 49,867 shares of the medical device company’s stock valued at $1,482,000 after buying an additional 35,522 shares during the period. Janney Montgomery Scott LLC increased its stake in Globus Medical by 6.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,468 shares of the medical device company’s stock valued at $846,000 after buying an additional 1,778 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Globus Medical during the 3rd quarter valued at about $177,000. Point72 Asset Management L.P. acquired a new position in Globus Medical during the 3rd quarter valued at about $13,187,000. Finally, Janus Henderson Group PLC increased its stake in Globus Medical by 18.6% during the 3rd quarter. Janus Henderson Group PLC now owns 3,181,499 shares of the medical device company’s stock valued at $94,554,000 after buying an additional 498,187 shares during the period. Hedge funds and other institutional investors own 67.76% of the company’s stock.

Globus Medical Company Profile

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.

Analyst Recommendations for Globus Medical (NYSE:GMED)

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

Latest News

Leave a Reply