Globus Medical, Inc. (GMED) Hit 52-Week High

June 8, 2018 - By Clifton Ray

Globus Medical, Inc. (NYSE:GMED) Logo

Investors sentiment increased to 1.06 in Q1 2018. Its up 0.07, from 0.99 in 2017Q4. It is positive, as 25 investors sold Globus Medical, Inc. shares while 87 reduced holdings. 51 funds opened positions while 68 raised stakes. 58.48 million shares or 2.35% less from 59.89 million shares in 2017Q4 were reported.
Glenmede Na reported 0.13% of its portfolio in Globus Medical, Inc. (NYSE:GMED). 16,461 are owned by Thrivent For Lutherans. 1,440 are owned by Assetmark. Pnc Services reported 3,242 shares. Virtu Lc holds 0.03% in Globus Medical, Inc. (NYSE:GMED) or 10,857 shares. Advantus Capital Mngmt reported 0.01% in Globus Medical, Inc. (NYSE:GMED). Hanseatic Mgmt Svcs holds 0% or 60 shares in its portfolio. Plante Moran Fincl Ltd Liability Corp accumulated 108 shares. Aqr Cap Mgmt Limited Liability Co stated it has 1.30 million shares or 0.07% of all its holdings. Victory reported 1.11 million shares or 0.12% of all its holdings. Nuveen Asset Limited Liability holds 0.13% in Globus Medical, Inc. (NYSE:GMED) or 388,213 shares. Prudential Finance reported 157,506 shares or 0.01% of all its holdings. South Carolina-based Greenwood Associates Lc has invested 0.06% in Globus Medical, Inc. (NYSE:GMED). Mckinley Capital Mngmt Ltd Liability Company Delaware holds 0.01% or 4,920 shares in its portfolio. Canada Pension Plan Invest Board stated it has 202,300 shares or 0.02% of all its holdings.

The stock of Globus Medical, Inc. (NYSE:GMED) hit a new 52-week high and has $60.99 target or 7.00 % above today’s $57.00 share price. The 6 months bullish chart indicates low risk for the $5.54B company. The 1-year high was reported on Jun, 8 by Barchart.com. If the $60.99 price target is reached, the company will be worth $387.66 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 2.18% or $1.22 during the last trading session, reaching $57. About 446,366 shares traded. Globus Medical, Inc. (NYSE:GMED) has risen 75.85% since June 8, 2017 and is uptrending. It has outperformed by 63.28% the S&P500.

Analysts await Globus Medical, Inc. (NYSE:GMED) to report earnings on August, 1. They expect $0.35 EPS, up 9.37 % or $0.03 from last year’s $0.32 per share. GMED’s profit will be $34.01M for 40.71 P/E if the $0.35 EPS becomes a reality. After $0.41 actual EPS reported by Globus Medical, Inc. for the previous quarter, Wall Street now forecasts -14.63 % negative EPS growth.

Globus Medical, Inc. (NYSE:GMED) Ratings Coverage

Among 7 analysts covering Globus Medical Inc (NYSE:GMED), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Globus Medical Inc has $6500 highest and $45.0 lowest target. $55.14’s average target is -3.26% below currents $57 stock price. Globus Medical Inc had 14 analyst reports since January 2, 2018 according to SRatingsIntel. On Thursday, May 31 the stock rating was initiated by Cantor Fitzgerald with “Buy”. BTIG Research downgraded the shares of GMED in report on Monday, April 16 to “Neutral” rating. Piper Jaffray maintained it with “Buy” rating and $50.0 target in Tuesday, January 9 report. The stock of Globus Medical, Inc. (NYSE:GMED) earned “Buy” rating by Needham on Wednesday, April 4. Piper Jaffray maintained Globus Medical, Inc. (NYSE:GMED) rating on Thursday, February 22. Piper Jaffray has “Buy” rating and $54.0 target. As per Wednesday, March 28, the company rating was maintained by Leerink Swann. Morgan Stanley maintained it with “Overweight” rating and $58 target in Thursday, May 3 report. Morgan Stanley upgraded the stock to “Overweight” rating in Tuesday, January 2 report. The firm has “Buy” rating given on Thursday, May 3 by Needham. The firm has “Buy” rating by Canaccord Genuity given on Thursday, January 4.

More important recent Globus Medical, Inc. (NYSE:GMED) news were published by: Seekingalpha.com which released: “Globus Medical Is Gaining Share In Its Mainstay Market” on June 01, 2018, also Seekingalpha.com published article titled: “Premarket analyst action – healthcare”, Nasdaq.com published: “As Spinal Stocks Climb Toward Yearly Highs, There’s Still Room for Upside” on June 07, 2018. More interesting news about Globus Medical, Inc. (NYSE:GMED) was released by: Globenewswire.com and their article: “Globus Medical Announces Positive Clinical Results for Lateral Expandable Technology” with publication date: May 15, 2018.

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 has market cap of $5.54 billion. The firm offers products that address an array of spinal pathologies, anatomies, and surgical approaches. It has a 51.82 P/E ratio. It provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions.

Globus Medical, Inc. (NYSE:GMED) Institutional Positions Chart

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