5,747 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC bought a new stake in Globus Medical, Inc. (NYSE:GMEDFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,747 shares of the medical device company’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMED. Vanguard Group Inc. grew its holdings in shares of Globus Medical by 49.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock worth $558,339,000 after purchasing an additional 3,732,959 shares during the period. Norges Bank purchased a new position in shares of Globus Medical in the 4th quarter valued at $95,537,000. Vestal Point Capital LP acquired a new position in shares of Globus Medical during the 4th quarter valued at $42,632,000. Burgundy Asset Management Ltd. lifted its holdings in shares of Globus Medical by 64.2% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,697,552 shares of the medical device company’s stock valued at $90,463,000 after acquiring an additional 663,782 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Globus Medical by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,659,944 shares of the medical device company’s stock worth $132,066,000 after purchasing an additional 435,132 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Globus Medical news, Director David D. Davidar sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the director now directly owns 566,275 shares of the company’s stock, valued at approximately $36,807,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David D. Davidar sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the sale, the director now directly owns 566,275 shares in the company, valued at approximately $36,807,875. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dan Lemaitre sold 63,300 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $64.61, for a total value of $4,089,813.00. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GMED. BTIG Research boosted their price objective on Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Stifel Nicolaus boosted their price target on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, May 8th. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Monday, May 20th. Finally, Barclays boosted their target price on shares of Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.40.

Read Our Latest Report on GMED

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $68.32 on Wednesday. The company’s fifty day moving average is $64.80 and its two-hundred day moving average is $57.32. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $69.77. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 106.75, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15.

Globus Medical (NYSE:GMEDGet Free Report) last released 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. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The firm had revenue of $606.67 million for the quarter, compared to analyst estimates of $586.82 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Globus Medical’s quarterly revenue was up 119.3% on a year-over-year basis. Sell-side analysts expect that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Globus Medical 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.

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

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