Globus Medical, Inc. (NYSE:GMED) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Globus Medical, Inc. (NYSE:GMED) by 5.2% during the fourth quarter, HoldingsChannel reports. The firm owned 74,793 shares of the medical device company’s stock after selling 4,064 shares during the quarter. Amalgamated Bank’s holdings in Globus Medical were worth $3,986,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after buying an additional 254 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Globus Medical by 4.6% in the third quarter. Fifth Third Bancorp now owns 8,868 shares of the medical device company’s stock worth $440,000 after buying an additional 387 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Globus Medical in the third quarter worth $28,000. Sequoia Financial Advisors LLC increased its stake in shares of Globus Medical by 1.1% in the third quarter. Sequoia Financial Advisors LLC now owns 72,478 shares of the medical device company’s stock worth $3,599,000 after buying an additional 797 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Globus Medical by 122.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after buying an additional 823 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GMED has been the subject of a number of research analyst reports. Truist Financial lifted 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. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a report on Thursday, January 11th. BTIG Research upped their price objective on shares of Globus Medical from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.60.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were 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 directly 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 through this link. Insiders own 24.30% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE GMED opened at $61.61 on Thursday. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $65.74. 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 market capitalization of $8.34 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 1.53 and a beta of 1.11. The firm has a 50-day moving average of $52.50 and a two-hundred day moving average of $51.26.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The company had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. During the same period in the prior year, the company earned $0.53 EPS. Globus Medical’s revenue was up 119.3% on a year-over-year basis. As a group, analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Globus Medical Company 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.