Forum Financial Management LP Buys 628 Shares of Globus Medical, Inc. $GMED

Forum Financial Management LP grew its stake in Globus Medical, Inc. (NYSE:GMED) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,092 shares of the medical device company’s stock after purchasing an additional 628 shares during the period. Forum Financial Management LP’s holdings in Globus Medical were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Globus Medical by 1,007.7% in the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 393 shares during the period. Whittier Trust Co. grew its stake in shares of Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock valued at $42,000 after purchasing an additional 184 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Globus Medical by 202.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after purchasing an additional 383 shares during the period. Signaturefd LLC grew its stake in shares of Globus Medical by 41.1% in the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock valued at $57,000 after purchasing an additional 279 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Globus Medical by 237.3% in the 1st quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after purchasing an additional 598 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Performance

NYSE:GMED opened at $63.41 on Tuesday. The stock’s fifty day moving average price is $59.36 and its two-hundred day moving average price is $60.40. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.71 and a beta of 1.12.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm had revenue of $745.34 million for the quarter, compared to the consensus estimate of $738.91 million. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a report on Wednesday, October 8th. Wall Street Zen downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada set a $88.00 target price on Globus Medical in a report on Friday, October 10th. Canaccord Genuity Group reduced their target price on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.27.

Insider Transactions at Globus Medical

In other news, Director Ann D. Rhoads sold 10,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $58.46, for a total value of $584,600.00. Following the transaction, the director owned 25,384 shares of the company’s stock, valued at $1,483,948.64. This represents a 28.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 18.51% of the company’s stock.

Globus Medical 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.