International Assets Investment Management LLC Acquires New Holdings in Globus Medical, Inc. (NYSE:GMED)

International Assets Investment Management LLC acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 39,754 shares of the medical device company’s stock, valued at approximately $2,118,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in Globus Medical during the first quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new position in Globus Medical during the third quarter valued at approximately $28,000. Advisory Services Network LLC grew its stake in Globus Medical by 109.6% during the first quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 263 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Globus Medical in the 4th quarter worth approximately $28,000. Finally, Harbor Investment Advisory LLC purchased a new position in Globus Medical in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

GMED opened at $50.37 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. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $62.88. The stock’s 50 day simple moving average is $53.19 and its 200 day simple moving average is $51.37. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 1.51 and a beta of 1.08.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 124.6% on a year-over-year basis. As a group, analysts predict that Globus Medical, Inc. will post 2.69 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

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

Wall Street Analyst Weigh In

A number of research firms have commented on GMED. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, March 18th. Truist Financial boosted their price target 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. Finally, Stifel Nicolaus boosted their price target 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 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, the stock has a consensus rating of “Moderate Buy” and an average price target 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.