Globus Medical, Inc. (NYSE:GMED) Shares Sold by Cwm LLC

Cwm LLC decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 21.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 992 shares of the medical device company’s stock after selling 269 shares during the period. Cwm LLC’s holdings in Globus Medical were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Globus Medical by 49.7% during the third quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock valued at $558,339,000 after acquiring an additional 3,732,959 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Globus Medical by 16.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,010,932 shares of the medical device company’s stock worth $53,873,000 after buying an additional 141,492 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Globus Medical by 854.5% in the fourth quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock valued at $8,544,000 after buying an additional 143,540 shares during the period. Sector Gamma AS bought a new position in Globus Medical during the third quarter valued at about $11,014,000. Finally, Barclays PLC grew its holdings in Globus Medical by 58.8% during the third quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock worth $31,315,000 after acquiring an additional 233,459 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Up 20.0 %

Shares of Globus Medical stock opened at $61.61 on Thursday. 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 1 year low of $43.38 and a 1 year high of $65.74. The stock has a 50-day moving average price of $52.50 and a 200 day moving average price of $51.26. The company has a market cap of $8.34 billion, a P/E ratio of 52.66, a P/E/G ratio of 1.53 and a beta of 1.11.

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

Analyst Ratings Changes

GMED has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a report on Thursday, January 11th. BTIG Research raised their target price on shares of Globus Medical from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial upped their price target on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Piper Sandler raised their price objective on Globus Medical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.60.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical 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 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 SEC, which is available through the SEC website. 24.30% of the stock is owned by corporate insiders.

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.