State of Alaska Department of Revenue Sells 1,490 Shares of Globus Medical, Inc. (NYSE:GMED)

State of Alaska Department of Revenue lessened its position in Globus Medical, Inc. (NYSE:GMED) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,460 shares of the medical device company’s stock after selling 1,490 shares during the period. State of Alaska Department of Revenue’s holdings in Globus Medical were worth $663,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Globus Medical by 49.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock worth $558,339,000 after acquiring an additional 3,732,959 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Globus Medical by 854.5% during the 4th quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock valued at $8,544,000 after purchasing an additional 143,540 shares in the last quarter. Sector Gamma AS bought a new stake in shares of Globus Medical during the 3rd quarter valued at about $11,014,000. Barclays PLC boosted its stake in shares of Globus Medical by 58.8% during the 3rd quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock valued at $31,315,000 after purchasing an additional 233,459 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Globus Medical by 94.6% during the 3rd quarter. UBS Group AG now owns 218,570 shares of the medical device company’s stock valued at $10,852,000 after purchasing an additional 106,269 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Down 1.3 %

NYSE:GMED opened at $52.44 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. The firm has a market capitalization of $7.10 billion, a P/E ratio of 44.82, a PEG ratio of 1.56 and a beta of 1.08. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $62.88. The company’s 50-day simple moving average is $53.32 and its 200 day simple moving average is $51.31.

Globus Medical (NYSE:GMED) last issued its earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The business’s revenue for the quarter was up 124.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. As a group, analysts forecast that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now directly owns 17,419 shares of the company’s stock, valued at $905,613.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.30% of the company’s stock.

Analysts Set New Price Targets

GMED has been the topic of a number of research reports. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, March 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial boosted their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus boosted their price objective on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

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.