Globus Medical (GMED) : The consensus on Globus Medical (GMED) based on 11 analyst recommendation on the company stock is 2.18, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Globus Medical (GMED).
Globus Medical (GMED) : The most positive equity analysts on Globus Medical (GMED) expects the shares to touch $33, whereas, the least positive believes that the stock will trade at $23 in the short term. The company is covered by 8 Wall Street Brokerage Firms. The average price target for shares are $26.75 with an expected fluctuation of $3.24 from the mean.
Also, Morgan Stanley maintains its rating on Globus Medical (NYSE:GMED). The global brokerage major lowers the current price target from $28 per share to $25 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on July 28, 2016.
Globus Medical (NYSE:GMED): After opening at $22.25, the stock dipped to an intraday low of $22.25 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $22.775 and the buying power remained strong till the end. The stock closed at $22.65 for the day, a gain of 2.03% for the day session. The total traded volume was 739,885. The stocks close on the previous trading day was $22.2.
Globus Medical, Inc. is a medical device company. The Company is focused on developing products for patients with musculoskeletal disorders and spine disorders. Its products consist of two categories: Innovative Fusion and Disruptive Technologies. Innovative Fusion products comprise fusion products to treat various spinal disorders for the entire spine and can be used in various surgical approaches. Disruptive Technologies represents a shift in the treatment of spinal disorders by allowing for surgical procedures and the treatment of spinal disorders. The Companys portfolio of Disruptive Technology products includes products that allow for minimally invasive surgical (MIS) techniques, as well as treatment alternatives, including motion preservation technologies, such as dynamic stabilization, total disc replacement and interspinous process spacer products, and biomaterials technologies, as well as interventional pain management solutions.