BidaskClub Upgrades Globus Medical, Inc. (GMED) to Hold

Globus Medical, Inc. (NYSE:GMED) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

GMED has been the subject of a number of other reports. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 30th. BTIG Research initiated coverage on shares of Globus Medical in a research note on Thursday, September 7th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Needham & Company LLC initiated coverage on shares of Globus Medical in a research note on Tuesday, September 26th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Globus Medical has an average rating of “Hold” and a consensus price target of $30.57.

Shares of Globus Medical (NYSE:GMED) opened at 30.65 on Thursday. The company has a market capitalization of $2.95 billion, a PE ratio of 27.61 and a beta of 0.56. Globus Medical has a 52 week low of $19.25 and a 52 week high of $34.03. The company has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.88.

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

TRADEMARK VIOLATION NOTICE: “BidaskClub Upgrades Globus Medical, Inc. (GMED) to Hold” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/21/bidaskclub-upgrades-globus-medical-inc-gmed-to-hold.html.

In other news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the transaction, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMED. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Globus Medical by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after acquiring an additional 31 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after acquiring an additional 35 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Globus Medical by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after acquiring an additional 45 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after acquiring an additional 68 shares during the last quarter. Finally, 1st Global Advisors Inc. lifted its holdings in shares o

GMED has been the subject of a number of other reports. Zacks Investment Research lowered shares of Globus Medical from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective on shares of Globus Medical in a research note on Friday, August 18th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 30th. BTIG Research initiated coverage on shares of Globus Medical in a research note on Thursday, September 7th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Needham & Company LLC initiated coverage on shares of Globus Medical in a research note on Tuesday, September 26th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Globus Medical has an average rating of “Hold” and a consensus price target of $30.57.

Shares of Globus Medical (NYSE:GMED) opened at 30.65 on Thursday. The company has a market capitalization of $2.95 billion, a PE ratio of 27.61 and a beta of 0.56. Globus Medical has a 52 week low of $19.25 and a 52 week high of $34.03. The company has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.88.

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

TRADEMARK VIOLATION NOTICE: “BidaskClub Upgrades Globus Medical, Inc. (GMED) to Hold” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/21/bidaskclub-upgrades-globus-medical-inc-gmed-to-hold.html.

In other news, insider A Brett Murphy sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $29.99, for a total transaction of $449,850.00. Following the completion of the transaction, the insider now directly owns 101,217 shares in the company, valued at approximately $3,035,497.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.21% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMED. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Globus Medical by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,538 shares of the medical device company’s stock worth $349,000 after acquiring an additional 31 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Globus Medical by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,036 shares of the medical device company’s stock worth $100,000 after acquiring an additional 35 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Globus Medical by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 17,464 shares of the medical device company’s stock worth $579,000 after acquiring an additional 45 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Globus Medical by 2.0% during the 2nd quarter. Advisor Group Inc. now owns 3,434 shares of the medical device company’s stock worth $114,000 after acquiring an additional 68 shares during the last quarter. Finally, 1st Global Advisors Inc. lifted its holdings in shares of Globus Medical by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 11,308 shares of the medical device company’s stock worth $375,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 65.40% 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)

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