Globus Medical, Inc. $GMED Shares Bought by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 48.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 237,150 shares of the medical device company’s stock after buying an additional 77,300 shares during the quarter. Globus Medical comprises about 3.2% of Lightrock Netherlands B.V.’s portfolio, making the stock its 8th largest holding. Lightrock Netherlands B.V.’s holdings in Globus Medical were worth $13,997,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GMED. Invesco Ltd. lifted its stake in shares of Globus Medical by 331.9% during the 1st quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company’s stock worth $147,949,000 after buying an additional 1,553,154 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Globus Medical during the 1st quarter worth about $54,669,000. Truist Financial Corp lifted its stake in shares of Globus Medical by 640.7% during the 1st quarter. Truist Financial Corp now owns 508,318 shares of the medical device company’s stock worth $37,209,000 after buying an additional 439,693 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Globus Medical by 60.1% during the 1st quarter. Driehaus Capital Management LLC now owns 873,784 shares of the medical device company’s stock worth $63,961,000 after buying an additional 328,040 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Globus Medical during the 1st quarter worth about $23,900,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE:GMED opened at $62.83 on Wednesday. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $94.93. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.73 and a beta of 1.12. The firm’s 50-day simple moving average is $59.39 and its 200 day simple moving average is $60.34.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. The firm had revenue of $745.34 million for the quarter, compared to analyst estimates of $738.91 million. During the same period last year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $58.46, for a total value of $584,600.00. Following the transaction, the director directly owned 25,384 shares of the company’s stock, valued at $1,483,948.64. This trade represents a 28.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GMED. Wall Street Zen cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Royal Bank Of Canada set a $88.00 target price on shares of Globus Medical in a research note on Friday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Morgan Stanley lowered their price target on shares of Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Finally, Canaccord Genuity Group lowered their price target on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.55.

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.