According to Fintel, Wells Fargo has maintained its coverage of Globus Medical Inc – (NYSE:GMED) with an Equal-Weight recommendation.
Analyst Price Forecast Suggests 38.91% Upside
As of August 31, 2023, the average one-year price target for Globus Medical Inc – is 68.53. The forecasts range from a low of 60.60 to a high of $80.85. The average price target represents an increase of 38.91% from its latest reported closing price of 49.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Globus Medical Inc – is 1,143MM, an increase of 4.20%. The projected annual non-GAAP EPS is 2.39.
What is the Fund Sentiment?
There are 809 funds or institutions reporting positions in Globus Medical Inc -. This is a decrease of 44 owner(s) or 5.16% in the last quarter. Average portfolio weight of all funds dedicated to GMED is 0.25%, a decrease of 5.49%. Total shares owned by institutions increased in the last three months by 4.12% to 98,501K shares. 
The put/call ratio of GMED is 0.14, indicating a bullish outlook.
What are Other Shareholders Doing?
Janus Henderson Group holds 7,091K shares representing 5.07% ownership of the company. In its prior filing, the firm reported owning 6,690K shares, representing an increase of 5.66%. The firm increased its portfolio allocation in GMED by 3.76% over the last quarter.
Nuance Investments holds 2,646K shares representing 1.89% ownership of the company. In its prior filing, the firm reported owning 1,846K shares, representing an increase of 30.22%. The firm increased its portfolio allocation in GMED by 52.01% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 2,424K shares representing 1.73% ownership of the company. In its prior filing, the firm reported owning 2,402K shares, representing an increase of 0.91%. The firm increased its portfolio allocation in GMED by 1.62% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,421K shares representing 1.73% ownership of the company. In its prior filing, the firm reported owning 2,402K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in GMED by 2.24% over the last quarter.
William Blair Investment Management holds 2,273K shares representing 1.63% ownership of the company. In its prior filing, the firm reported owning 1,863K shares, representing an increase of 18.03%. The firm increased its portfolio allocation in GMED by 18.02% over the last quarter.
Globus Medical Background Information
(This description is provided by the company.)
Based in Audubon, Pennsylvania, Globus Medical, Inc. was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
