Globus Medical (NYSE:GMED) Given New $94.00 Price Target at Stifel Nicolaus

Globus Medical (NYSE:GMED) had its price objective lifted by Stifel Nicolaus from $92.00 to $94.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a buy rating on the medical device company’s stock.

A number of other equities analysts have also weighed in on GMED. Piper Sandler upped their price objective 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 raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada upped their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Stock Down 4.4 %

Shares of GMED opened at $80.43 on Friday. The business has a 50-day simple moving average of $86.76 and a two-hundred day simple moving average of $78.94. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 120.04, a PEG ratio of 1.60 and a beta of 1.19. Globus Medical has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. On average, 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 other news, SVP Kelly Huller sold 2,500 shares of the 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 filing with the SEC, which is available 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 stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GMED. SBI Securities Co. Ltd. bought a new stake in Globus Medical during the 4th quarter valued at $27,000. Quarry LP boosted its position in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 433 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares in the last quarter. UMB Bank n.a. boosted its position in Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after acquiring an additional 197 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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.