Globus Medical, Inc. (GMED) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Globus Medical, Inc. (NYSE:GMED) from a hold rating to a sell rating in a research report sent to investors on Wednesday, August 2nd.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Globus Medical from a hold rating to a sell rating in a research report on Tuesday, July 4th. Leerink Swann raised shares of Globus Medical from a market perform rating to an outperform rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Globus Medical in a research report on Thursday, May 18th. Canaccord Genuity raised shares of Globus Medical from a hold rating to a buy rating and lifted their price objective for the stock from $30.00 to $37.00 in a research report on Thursday, May 4th. Finally, Barclays PLC cut shares of Globus Medical from an equal weight rating to an underweight rating and lifted their price objective for the stock from $24.00 to $28.00 in a research report on Monday, April 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $30.43.

Globus Medical (NYSE GMED) traded up 1.81% during mid-day trading on Wednesday, reaching $29.30. The company’s stock had a trading volume of 610,322 shares. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 26.40 and a beta of 0.60. Globus Medical has a 52 week low of $19.25 and a 52 week high of $34.03. The company’s 50-day moving average price is $31.79 and its 200 day moving average price is $30.14.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Wednesday, August 2nd. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $152.39 million during the quarter, compared to analysts’ expectations of $150.94 million. Globus Medical had a net margin of 18.12% and a return on equity of 13.99%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities analysts forecast that Globus Medical will post $1.27 earnings per share for the current fiscal year.

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In other news, President Anthony L. Williams sold 16,153 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $31.94, for a total value of $515,926.82. Following the completion of the sale, the president now directly owns 16,153 shares of the company’s stock, valued at $515,926.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.21% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in GMED. PNC Financial Services Group Inc. boosted its stake in shares of Globus Medical by 1.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after buying an additional 35 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Globus Medical by 18.9% in the second quarter. Sei Investments Co. now owns 3,165 shares of the medical device company’s stock worth $105,000 after buying an additional 503 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Globus Medical by 2.0% in the second quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after buying an additional 68 shares during the last quarter. Elkfork Partners LLC acquired a new stake in shares of Globus Medical during the first quarter worth approximately $114,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Globus Medical by 22.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the medical device company’s stock worth $136,000 after buying an additional 830 shares during the last quarter. 69.45% of the stock is owned by institutional investors and hedge funds.

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)

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