Globus Medical, Inc. (NYSE:GMED) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in Globus Medical, Inc. (NYSE:GMED) by 1.0% during the third quarter, Holdings Channel.com reports. The fund owned 219,977 shares of the medical device company’s stock after selling 2,300 shares during the quarter. Swiss National Bank’s holdings in Globus Medical were worth $15,737,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stephens Inc. AR grew its stake in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after acquiring an additional 140 shares during the period. Nisa Investment Advisors LLC grew its stake in Globus Medical by 15.9% in the 2nd 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. Van ECK Associates Corp grew its stake in Globus Medical by 0.4% in the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock valued at $3,145,000 after acquiring an additional 183 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research reports. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays raised their price objective on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Canaccord Genuity Group raised their price objective on Globus Medical from $79.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, BTIG Research raised their price objective on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.18.

Globus Medical Stock Down 0.2 %

NYSE GMED opened at $84.72 on Friday. Globus Medical, Inc. has a 52 week low of $44.02 and a 52 week high of $85.30. The business’s fifty day simple moving average is $74.76 and its 200-day simple moving average is $70.69. The firm has a market cap of $11.54 billion, a PE ratio of 126.45, a P/E/G ratio of 1.99 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. Globus Medical’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current year.

Insider Activity at Globus Medical

In related news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,000 shares of company stock worth $8,512,850. Company insiders own 18.54% of the company’s stock.

Globus Medical Company Profile

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.