Globus Medical Inc (GMED) was Downgraded by Canaccord Genuity to ” Hold” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $30 . Earlier the firm had a rating of “Buy ” on the company shares. Canaccord Genuity advised their investors in a research report released on Jul 27, 2016.
Many Wall Street Analysts have commented on Globus Medical Inc. Globus Medical Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 27, 2016. Barclays Initiated Globus Medical Inc on May 27, 2016 to “Equal Weight”, Price Target of the shares are set at $26.Globus Medical Inc was Downgraded by Goldman to ” Sell” on May 16, 2016.
On the company’s financial health, Globus Medical Inc reported $0.29 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.29. The company had revenue of $139.30 million for the quarter, compared to analysts expectations of $140.30 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.
Globus Medical Inc opened for trading at $22.29 and hit $22.96 on the upside on Thursday, eventually ending the session at $22.48, with a gain of 0.94% or 0.21 points. The heightened volatility saw the trading volume jump to 17,95,989 shares. Company has a market cap of $2,147 M.
In a different news, on Jan 6, 2016, Robert Liptak (director) sold 15,300 shares at $27.50 per share price. According to the SEC, 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.