Brokerage firm Morgan Stanley Maintains its rating on Globus Medical Inc(NYSE:GMED). In a research note issued to the investors, the brokerage major Lowers the price-target to $25.00 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Jul 28, 2016.
In a different note, On Jul 27, 2016, Leerink Swann said it Downgrades its rating on Globus Medical Inc. The shares have been rated ‘Market Perform’ by the firm. On Jul 27, 2016, Wells Fargo said it Downgrades its rating on Globus Medical Inc. The shares have been rated ‘Market Perform’ by the firm. On Jul 27, 2016, Barclays said it Maintains its rating on Globus Medical Inc. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Equalweight’ by the firm. Barclays said it Initiates Coverage on Globus Medical Inc, according to a research note issued on May 27, 2016. The shares have been rated ‘Equal-weight’ by the firm. On May 16, 2016, Goldman Sachs said it Downgrades its rating on Globus Medical Inc. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Sell’ by the firm.
Globus Medical Inc (GMED) shares turned negative on Thursdays trading session with the shares closing down -0.1 points or -0.43% at a volume of 3,68,018. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.535. The peak price level was also seen at $23.535 while the days lowest was $23.265. Finally the shares closed at $23.28. The 52-week high of the shares is $28.6 while the 52-week low is $20.48. According to the latest information available, the market cap of the company is $2,227 M.
Globus Medical Inc(GMED) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $137.49M. Analysts had an estimated revenue of $141.97M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.29.
Several Insider Transactions has been reported to the SEC. On Jan 6, 2016, Robert Liptak (director) sold 15,300 shares at $27.50 per share price.Also, On Jan 6, 2016, Kurt Wheeler (director) sold 15,300 shares at $27.50 per share price.On Nov 18, 2015, A Brett Murphy (Group President, Commerical Op) sold 5,000 shares at $25.80 per share price, according to the Form-4 filing with the securities and exchange commission.
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.