Globus Medical, Inc. (NYSE:GMED) Position Boosted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,112 shares of the medical device company’s stock after acquiring an additional 152 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.05% of Globus Medical worth $5,159,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical during the 3rd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical during the second quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in shares of Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the period. International Assets Investment Management LLC bought a new stake in Globus Medical in the second quarter valued at $52,000. Finally, Nisa Investment Advisors LLC grew its position in Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Down 0.2 %

NYSE:GMED opened at $73.36 on Wednesday. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $75.98. The business’s 50-day moving average price is $70.83 and its two-hundred day moving average price is $66.49. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 114.63, a PEG ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 115.9% on a year-over-year basis. Sell-side analysts predict that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GMED. Truist Financial upped their price target on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Morgan Stanley upped their price target on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada upped their price target on Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.78.

Insiders Place Their Bets

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

About Globus Medical

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.