US Bancorp DE Reduces Stake in Globus Medical, Inc. (NYSE:GMED)

US Bancorp DE lowered its holdings in Globus Medical, Inc. (NYSE:GMEDGet Rating) by 1.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,076 shares of the medical device company’s stock after selling 190 shares during the quarter. US Bancorp DE’s holdings in Globus Medical were worth $601,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GMED. Bridgewater Associates LP increased its stake in Globus Medical by 10.3% in the 2nd quarter. Bridgewater Associates LP now owns 125,220 shares of the medical device company’s stock valued at $7,030,000 after purchasing an additional 11,734 shares in the last quarter. Allworth Financial LP boosted its holdings in Globus Medical by 32,200.0% in the second quarter. Allworth Financial LP now owns 969 shares of the medical device company’s stock valued at $54,000 after acquiring an additional 966 shares during the last quarter. FDx Advisors Inc. acquired a new position in Globus Medical in the second quarter valued at $754,000. Inspire Investing LLC boosted its holdings in Globus Medical by 17.9% in the second quarter. Inspire Investing LLC now owns 3,763 shares of the medical device company’s stock valued at $211,000 after acquiring an additional 571 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Globus Medical by 5.2% in the second quarter. Park Avenue Securities LLC now owns 16,643 shares of the medical device company’s stock valued at $934,000 after acquiring an additional 818 shares during the last quarter. 74.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group assumed coverage on Globus Medical in a research note on Wednesday, October 12th. They set a “buy” rating and a $75.00 price objective on the stock. Wells Fargo & Company lifted their target price on Globus Medical from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, December 12th. Truist Financial lifted their target price on Globus Medical from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 20th. Morgan Stanley lifted their target price on Globus Medical from $68.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, January 6th. Finally, StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, December 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $75.00, for a total value of $562,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.41% of the company’s stock.

Globus Medical Stock Up 2.4 %

Shares of GMED stock opened at $74.05 on Friday. The business has a 50 day moving average of $72.52 and a two-hundred day moving average of $65.25. The company has a market cap of $7.39 billion, a P/E ratio of 49.04, a PEG ratio of 2.85 and a beta of 1.02. Globus Medical, Inc. has a 52 week low of $52.60 and a 52 week high of $81.78.

Globus Medical (NYSE:GMEDGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). The business had revenue of $254.15 million for the quarter, compared to analyst estimates of $252.94 million. Globus Medical had a return on equity of 11.59% and a net margin of 15.55%. Analysts expect that Globus Medical, Inc. will post 2.03 EPS for the current fiscal year.

Globus Medical Profile

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Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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