Natixis Advisors L.P. Increases Stock Position in Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors L.P. grew its stake in Globus Medical, Inc. (NYSE:GMED) by 45.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 150,114 shares of the medical device company’s stock after acquiring an additional 47,047 shares during the period. Natixis Advisors L.P.’s holdings in Globus Medical were worth $7,999,000 as of its most recent filing with the SEC.

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

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the transaction, the director now owns 17,419 shares in the company, valued at approximately $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GMED has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday. Stifel Nicolaus upped their price objective on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Globus Medical in a report on Thursday, January 11th. BTIG Research upped their price target on Globus Medical from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Truist Financial lifted their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.60.

Globus Medical Stock Up 20.0 %

Shares of NYSE:GMED opened at $61.61 on Thursday. The firm has a 50 day simple moving average of $52.50 and a 200-day simple moving average of $51.26. 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 PE ratio of 52.66, a P/E/G ratio of 1.53 and a beta of 1.11.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Globus Medical’s revenue for the quarter was up 119.3% on a year-over-year basis. On average, equities analysts predict that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

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.