Globus Medical Inc (GMED) Earns “Hold” Rating from Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. reissued their hold rating on shares of Globus Medical Inc (NYSE:GMED) in a research note released on Wednesday morning.

Other equities analysts have also issued reports about the stock. Aegis assumed coverage on shares of Globus Medical in a research report on Wednesday, November 30th. They issued a buy rating and a $31.00 price objective for the company. Canaccord Genuity reaffirmed a hold rating and issued a $27.00 price objective on shares of Globus Medical in a research report on Monday, January 23rd. Finally, Zacks Investment Research raised shares of Globus Medical from a sell rating to a hold rating in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Globus Medical presently has an average rating of Hold and an average price target of $25.60.

Analyst Recommendations for Globus Medical (NYSE:GMED)

Globus Medical (NYSE:GMED) opened at 29.96 on Wednesday. The firm’s 50-day moving average is $27.78 and its 200 day moving average is $24.53. The stock has a market cap of $2.88 billion, a P/E ratio of 27.74 and a beta of 0.63. Globus Medical has a one year low of $19.25 and a one year high of $30.12.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Monday, February 27th. The medical device company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company earned $151.59 million during the quarter, compared to analysts’ expectations of $149.30 million. Globus Medical had a net margin of 21.20% and a return on equity of 14.92%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. On average, analysts anticipate that Globus Medical will post $1.27 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Globus Medical by 31.7% in the third quarter. Acrospire Investment Management LLC now owns 5,400 shares of the medical device company’s stock valued at $122,000 after buying an additional 1,300 shares during the period. Sei Investments Co. increased its position in shares of Globus Medical by 100.0% in the third quarter. Sei Investments Co. now owns 7,432 shares of the medical device company’s stock valued at $168,000 after buying an additional 3,716 shares during the period. First Allied Advisory Services Inc. acquired a new position in shares of Globus Medical during the fourth quarter valued at $225,000. FNY Partners Fund LP acquired a new position in shares of Globus Medical during the fourth quarter valued at $248,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Globus Medical during the fourth quarter valued at $264,000. Institutional investors own 88.55% 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.

5 Day Chart for NYSE:GMED

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