Mount Yale Investment Advisors LLC Reduces Stock Position in Globus Medical, Inc. (NYSE:GMED)

Mount Yale Investment Advisors LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 10.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,533 shares of the medical device company’s stock after selling 1,500 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Globus Medical were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Park Avenue Securities LLC lifted its stake in Globus Medical by 7.1% during the first quarter. Park Avenue Securities LLC now owns 7,288 shares of the medical device company’s stock worth $391,000 after purchasing an additional 483 shares during the last quarter. Diversified Trust Co lifted its position in shares of Globus Medical by 56.1% during the 1st quarter. Diversified Trust Co now owns 21,366 shares of the medical device company’s stock worth $1,146,000 after buying an additional 7,675 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Globus Medical by 25.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 964,092 shares of the medical device company’s stock valued at $51,714,000 after buying an additional 194,900 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Globus Medical by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 28,361 shares of the medical device company’s stock valued at $1,521,000 after buying an additional 700 shares during the last quarter. Finally, Leeward Investments LLC MA raised its stake in Globus Medical by 27.6% during the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock worth $11,918,000 after acquiring an additional 48,047 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on 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 owns 42,884 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the sale, the director now owns 536,275 shares in the company, valued at $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Globus Medical Trading Down 0.6 %

NYSE:GMED opened at $73.17 on Friday. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $75.98. The stock’s 50 day simple moving average is $71.06 and its 200-day simple moving average is $66.59. The firm has a market cap of $9.91 billion, a P/E ratio of 114.33, a PEG ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same period in the previous year, the company posted $0.63 EPS. Globus Medical’s revenue was up 115.9% compared to the same quarter last year. Research analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GMED. Truist Financial upped their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays upped their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price objective on Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, BTIG Research raised their target price on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.78.

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.