November 30, 2016 - By Nellie Frank
In a analysts report revealed on Wednesday morning, Aegis Capital analyst just started coverage of Globus Medical (NYSE:GMED) with “Buy” rating. The target price per share is set to $31.00.
Out of 9 analysts covering Globus Medical Inc (NYSE:GMED), 2 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 22% are positive. $32 is the highest target while $21 is the lowest. The $26.75 average target is 22.71% above today’s ($21.8) stock price. Globus Medical Inc has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating by JMP Securities given on Wednesday, November 9. Barclays Capital maintained the stock with “Equalweight” rating in Wednesday, July 27 report. The firm has “Equal-Weight” rating given on Friday, May 27 by Barclays Capital. The firm has “Underperform” rating by Bank of America given on Friday, January 8. UBS initiated the shares of GMED in a report on Tuesday, September 22 with “Buy” rating. Morgan Stanley initiated Globus Medical Inc (NYSE:GMED) on Monday, September 14 with “Overweight” rating. On Monday, May 16 the stock rating was downgraded by Goldman Sachs to “Sell”. The stock of Globus Medical Inc (NYSE:GMED) earned “Overweight” rating by Morgan Stanley on Monday, September 28. The rating was downgraded by Leerink Swann on Wednesday, July 27 to “Market Perform”. The stock of Globus Medical Inc (NYSE:GMED) has “Perform” rating given on Wednesday, November 9 by Oppenheimer.
About 320,899 shares traded hands. Globus Medical Inc (NYSE:GMED) has declined 15.85% since April 27, 2016 and is downtrending. It has underperformed by 21.08% the S&P500.
Analysts await Globus Medical Inc (NYSE:GMED) to report earnings on February, 22. They expect $0.33 earnings per share, up 3.13% or $0.01 from last year’s $0.32 per share. GMED’s profit will be $31.79M for 16.52 P/E if the $0.33 EPS becomes a reality. After $0.29 actual earnings per share reported by Globus Medical Inc for the previous quarter, Wall Street now forecasts 13.79% EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.33, from 1.21 in 2016Q1. The ratio worsened, as 21 funds sold all Globus Medical Inc shares owned while 61 reduced positions. 25 funds bought stakes while 74 increased positions. They now own 65.87 million shares or 1.65% less from 66.98 million shares in 2016Q1.
Susquehanna Gru Ltd Liability Partnership holds 0% or 87,179 shares in its portfolio. Fiera Corporation holds 373,623 shares or 0.05% of its portfolio. Raymond James And Assocs owns 56,275 shares or 0% of their US portfolio. Stoneridge Inv Prns Ltd Co, a Pennsylvania-based fund reported 51,339 shares. Intl Group has invested 0% of its portfolio in Globus Medical Inc (NYSE:GMED). Kalmar Invs Inc De, a Delaware-based fund reported 1.12 million shares. Globeflex Capital L P owns 48,594 shares or 0.32% of their US portfolio. The United Kingdom-based Marshall Wace Ltd Liability Partnership has invested 0.01% in Globus Medical Inc (NYSE:GMED). Assetmark holds 1,821 shares or 0% of its portfolio. Teachers Advisors has 112,196 shares for 0% of their US portfolio. The New York-based Goldman Sachs Grp has invested 0% in Globus Medical Inc (NYSE:GMED). Mackenzie holds 14,960 shares or 0% of its portfolio. Tower Research Cap Ltd Com (Trc) holds 6,925 shares or 0.02% of its portfolio. Qs Investors Ltd Liability Company holds 0% of its portfolio in Globus Medical Inc (NYSE:GMED) for 11 shares. St Johns Invest Management Lc has 0.29% invested in the company for 13,566 shares.
Globus Medical, Inc. is a medical device company. The company has a market cap of $2.10 billion. The Firm is focused on developing products for patients with musculoskeletal disorders. It has a 17.85 P/E ratio. It is focused on products to treat patients with spine disorders.
According to Zacks Investment Research, “Globus Medical, Inc. is a medical device company focused on the design, development and commercialization of products that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: innovative fusion or disruptive technologies. Its innovative fusion products address a broad range of spinal fusion surgical procedures. Its disruptive technology products include minimally invasive surgical, motion preservation and advanced biomaterials technologies. Globus Medical, Inc. is based in Audubon, Pennsylvania.”
Globus Medical, Inc., incorporated on March 3, 2003, is a medical device company. The Firm is focused on developing products for patients with musculoskeletal disorders. It is focused on products to treat patients with spine disorders. The Company’s products fall under categories, which include Innovative Fusion and Disruptive Technologies. The Innovative Fusion category products include fusion products to treat spinal disorders for the entire spine, and they can be used in various surgical approaches. The Disruptive Technologies category represents a shift in the treatment of spinal disorders by allowing for surgical procedures and the treatment of spinal disorders.
More news for Globus Medical Inc (NYSE:GMED) were recently published by: Valuewalk.com, which released: “Globus Medical Inc (GMED)’s Inside Job” on March 22, 2016. Globenewswire.com‘s article titled: “Globus Medical Reports Third Quarter 2016 Results” and published on November 08, 2016 is yet another important article.
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By Nellie Frank