Treasurer of the State of North Carolina Acquires 520 Shares of Globus Medical, Inc. (NYSE:GMED)

Treasurer of the State of North Carolina raised its position in shares of Globus Medical, Inc. (NYSE:GMEDFree Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,565 shares of the medical device company’s stock after acquiring an additional 520 shares during the period. Treasurer of the State of North Carolina’s holdings in Globus Medical were worth $2,801,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in Globus Medical by 3.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock valued at $378,000 after acquiring an additional 244 shares during the period. Allworth Financial LP boosted its holdings in Globus Medical by 25.7% during the fourth 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 during the period. DekaBank Deutsche Girozentrale bought a new stake in Globus Medical during the third quarter valued at about $28,000. Moran Wealth Management LLC boosted its holdings in Globus Medical by 0.9% during the fourth quarter. Moran Wealth Management LLC now owns 82,903 shares of the medical device company’s stock valued at $4,418,000 after acquiring an additional 708 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Globus Medical by 1.1% during the third 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 during the period. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following 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 the SEC website. In other news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now directly owns 17,419 shares in the company, valued at $905,613.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,890 shares of company stock valued at $5,940,387. 18.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Truist Financial upped their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Barclays upped their price objective on shares of Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, BTIG Research upped their price objective on shares of Globus Medical from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.40.

Read Our Latest Analysis on Globus Medical

Globus Medical Trading Up 0.1 %

Shares of Globus Medical stock opened at $66.30 on Thursday. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 103.59, a P/E/G ratio of 1.86 and a beta of 1.15. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $67.89. The firm’s 50-day moving average price is $57.36 and its two-hundred day moving average price is $53.96.

Globus Medical (NYSE:GMEDGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.17. The firm had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company’s quarterly revenue was up 119.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Globus Medical, Inc. will post 2.82 EPS for the current year.

Globus Medical Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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