Is Buying Globus Medical, Inc. (GMED) Here a Winning Strategy? The Stock Formed Wedge Up Pattern

March 20, 2018 - By Graig Alexander

Investors sentiment decreased to 1.38 in 2017 Q3. Its down 0.19, from 1.57 in 2017Q2. It is negative, as 18 investors sold Globus Medical, Inc. shares while 68 reduced holdings. 42 funds opened positions while 77 raised stakes. 64.77 million shares or 3.39% more from 62.65 million shares in 2017Q2 were reported.
Apg Asset Management Nv stated it has 233,700 shares. Los Angeles Capital Mngmt Equity Rech owns 20,486 shares or 0% of their US portfolio. Jennison Assoc Ltd Liability Corp reported 21,138 shares or 0% of all its holdings. Deutsche Natl Bank Ag holds 1.21 million shares or 0.02% of its portfolio. Maryland-based Proshare Advsr Limited Liability has invested 0% in Globus Medical, Inc. (NYSE:GMED). Bessemer Gp Inc Inc holds 0% or 28,185 shares. Orrstown Svcs accumulated 51 shares or 0% of the stock. Alps Advsrs holds 0% or 15,299 shares in its portfolio. 296,699 are owned by Brandywine Global Investment Mngmt Ltd Limited Liability Company. Regions Financial Corporation reported 0.01% in Globus Medical, Inc. (NYSE:GMED). Pnc Svcs Incorporated reported 2,862 shares. The Ohio-based Employees Retirement System Of Ohio has invested 0% in Globus Medical, Inc. (NYSE:GMED). Paradigm Cap Management New York accumulated 739,000 shares or 1.9% of the stock. Lloyds Bk Gp Public Ltd Liability Com invested 1.32% in Globus Medical, Inc. (NYSE:GMED). 195,018 were accumulated by American Group Inc.

The stock of Globus Medical, Inc. (GMED) formed an up wedge with $54.06 target or 6.00 % above today’s $51.00 share price. The 7 months wedge indicates low risk for the $4.93B company. If the $54.06 price target is reached, the company will be worth $295.80 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.55% or $0.28 during the last trading session, reaching $51. About 29,189 shares traded. Globus Medical, Inc. (NYSE:GMED) has risen 30.88% since March 20, 2017 and is uptrending. It has outperformed by 14.18% the S&P500.

Analysts await Globus Medical, Inc. (NYSE:GMED) to report earnings on May, 2. They expect $0.36 EPS, up 12.50 % or $0.04 from last year’s $0.32 per share. GMED’s profit will be $34.80M for 35.42 P/E if the $0.36 EPS becomes a reality. After $0.38 actual EPS reported by Globus Medical, Inc. for the previous quarter, Wall Street now forecasts -5.26 % negative EPS growth.

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

Among 15 analysts covering Globus Medical Inc (NYSE:GMED), 9 have Buy rating, 2 Sell and 4 Hold. Therefore 60% are positive. Globus Medical Inc had 46 analyst reports since August 3, 2015 according to SRatingsIntel. The company was maintained on Wednesday, November 8 by Canaccord Genuity. Canaccord Genuity maintained Globus Medical, Inc. (NYSE:GMED) on Thursday, January 4 with “Buy” rating. The rating was maintained by Barclays Capital with “Underweight” on Thursday, October 19. The firm has “Neutral” rating given on Friday, November 10 by Bank of America. Leerink Swann upgraded Globus Medical, Inc. (NYSE:GMED) on Wednesday, April 12 to “Outperform” rating. Morgan Stanley upgraded the stock to “Overweight” rating in Tuesday, January 2 report. The stock of Globus Medical, Inc. (NYSE:GMED) earned “Hold” rating by Oppenheimer on Friday, May 5. Canaccord Genuity maintained the stock with “Buy” rating in Thursday, August 3 report. The company was initiated on Tuesday, September 22 by UBS. Barclays Capital maintained Globus Medical, Inc. (NYSE:GMED) on Thursday, August 3 with “Underweight” rating.

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