Yousif Capital Management LLC Has $2.92 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Yousif Capital Management LLC cut its stake in Globus Medical, Inc. (NYSE:GMED) by 1.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 54,742 shares of the medical device company’s stock after selling 663 shares during the quarter. Yousif Capital Management LLC’s holdings in Globus Medical were worth $2,917,000 as of its most recent SEC filing.

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

Globus Medical Price Performance

Shares of GMED opened at $50.55 on Monday. The business has a 50-day moving average of $53.00 and a 200-day moving average of $51.31. 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 company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $62.88.

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, topping the consensus estimate of $0.59 by $0.01. The company 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%. Globus Medical’s revenue for the quarter was up 124.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GMED shares. Truist Financial upped their price target on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Stifel Nicolaus increased their price objective on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research note on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 10,590 shares of the firm’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 transaction of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares of the company’s stock, valued at $905,613.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.30% of the company’s stock.

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.