Needham Reaffirms Their Buy Rating on Globus Medical (GMED)

By Carrie Williams

In a report released today, Michael Matson from Needham reiterated a Buy rating on Globus Medical (GMEDResearch Report), with a price target of $63.00. The company’s shares closed last Monday at $53.06.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 6.1% and a 61.8% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Globus Medical has an analyst consensus of Hold, with a price target consensus of $53.00.

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The company has a one-year high of $57.83 and a one-year low of $38.01. Currently, Globus Medical has an average volume of 425.7K.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GMED in relation to earlier this year. Most recently, in August 2019, David Davidar, a Director at GMED sold 50,000 shares for a total of $2,466,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Globus Medical, Inc. operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology.