Greenleaf Trust Takes $248,000 Position in Globus Medical, Inc. (NYSE:GMED)

Greenleaf Trust acquired a new position in Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, Holdings Channel reports. The firm acquired 4,653 shares of the medical device company’s stock, valued at approximately $248,000.

Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Globus Medical during the third quarter valued at approximately $28,000. Allworth Financial LP lifted its holdings in shares of Globus Medical by 25.7% during the 4th quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after acquiring an additional 254 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Globus Medical by 122.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after acquiring an additional 823 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Globus Medical in the third quarter worth $89,000. Finally, Coldstream Capital Management Inc. bought a new position in Globus Medical in the third quarter valued at $205,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.3 %

NYSE:GMED opened at $51.44 on Thursday. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $53.13 and a 200-day moving average price of $51.36. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 1.51 and a beta of 1.08.

Globus Medical (NYSE:GMED) last posted 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 business had revenue of $616.53 million for the quarter, compared to analysts’ expectations of $608.21 million. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue was up 124.6% on a year-over-year basis. Equities analysts predict that Globus Medical, Inc. will post 2.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now owns 17,419 shares in the company, valued at approximately $905,613.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 24.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GMED. Truist Financial upped their price objective on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Globus Medical in a research report on Thursday, January 11th. 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 report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average 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.