Cerity Partners LLC Buys Shares of 6,010 Globus Medical, Inc. (NYSE:GMED)

Cerity Partners LLC bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,010 shares of the medical device company’s stock, valued at approximately $320,000.

A number of other large investors also recently added to or reduced their stakes in GMED. SG Americas Securities LLC lifted its position in Globus Medical by 107.5% during the 3rd quarter. SG Americas Securities LLC now owns 16,798 shares of the medical device company’s stock valued at $834,000 after purchasing an additional 8,702 shares during the period. State of Alaska Department of Revenue lifted its position in Globus Medical by 40.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,950 shares of the medical device company’s stock valued at $692,000 after purchasing an additional 4,045 shares during the period. Oak Thistle LLC lifted its position in Globus Medical by 75.0% during the 3rd quarter. Oak Thistle LLC now owns 8,841 shares of the medical device company’s stock valued at $439,000 after purchasing an additional 3,789 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Globus Medical by 182.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 39,697 shares of the medical device company’s stock valued at $1,971,000 after acquiring an additional 25,637 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Globus Medical by 75.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,424 shares of the medical device company’s stock valued at $518,000 after acquiring an additional 4,476 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus upped their price target on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed 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 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. Finally, Truist Financial upped their price target on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

Insiders Place Their Bets

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

Globus Medical Trading Up 0.4 %

NYSE GMED opened at $50.55 on Friday. The company has a market cap of $6.84 billion, a PE ratio of 43.21, a PEG ratio of 1.48 and a beta of 1.08. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The stock has a 50 day moving average of $53.00 and a 200-day moving average of $51.32.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $608.21 million. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 124.6% on a year-over-year basis. On average, equities research analysts anticipate that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

Globus Medical Profile

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.