Globus Medical (GMED) Earning Somewhat Favorable Press Coverage, Analysis Finds

News coverage about Globus Medical (NYSE:GMED) has been trending somewhat positive on Thursday, Accern Sentiment Analysis reports. The research group scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Globus Medical earned a media sentiment score of 0.20 on Accern’s scale. Accern also assigned media coverage about the medical device company an impact score of 46.2606873431753 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Here are some of the headlines that may have impacted Accern Sentiment’s analysis:

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Globus Medical stock opened at $50.78 on Thursday. Globus Medical has a 12 month low of $27.79 and a 12 month high of $52.18. The firm has a market capitalization of $4,813.98, a price-to-earnings ratio of 38.76, a P/E/G ratio of 2.77 and a beta of 0.42.

Globus Medical (NYSE:GMED) last released its earnings results on Wednesday, February 21st. The medical device company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The business had revenue of $176.03 million for the quarter, compared to the consensus estimate of $175.50 million. During the same period in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. sell-side analysts anticipate that Globus Medical will post 1.5 EPS for the current fiscal year.

Several equities research analysts recently weighed in on GMED shares. ValuEngine raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised Globus Medical from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Monday, February 26th. BTIG Research set a $45.00 target price on Globus Medical and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Morgan Stanley set a $53.00 target price on Globus Medical and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $53.00 target price on shares of Globus Medical in a report on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Globus Medical presently has an average rating of “Buy” and an average target price of $50.00.

In other news, CEO David M. Demski sold 50,891 shares of the company’s stock in a transaction on Friday, April 13th. The stock was sold at an average price of $51.00, for a total transaction of $2,595,441.00. Following the transaction, the chief executive officer now directly owns 152,701 shares of the company’s stock, valued at $7,787,751. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Eric Schwartz sold 24,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $50.00, for a total value of $1,200,000.00. Following the transaction, the vice president now directly owns 24,000 shares in the company, valued at $1,200,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,891 shares of company stock worth $8,795,441. Corporate insiders own 28.21% of the company’s stock.

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Globus Medical Company Profile

Globus Medical, Inc, a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The company offers products that address an array of spinal pathologies, anatomies, and surgical approaches. Its fusion products include a range of implant and surgical approach options to treat degenerative, deformity, tumor, and trauma conditions along the spine from the occiput to the sacrum.

Insider Buying and Selling by Quarter for Globus Medical (NYSE:GMED)

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