Globus Medical, Inc. $GMED Shares Acquired by US Bancorp DE

US Bancorp DE increased its stake in Globus Medical, Inc. (NYSE:GMED) by 190.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,479 shares of the medical device company’s stock after purchasing an additional 8,183 shares during the quarter. US Bancorp DE’s holdings in Globus Medical were worth $737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GMED. Farther Finance Advisors LLC lifted its holdings in Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 240 shares during the last quarter. Larson Financial Group LLC raised its holdings in Globus Medical by 1,007.7% during the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after buying an additional 393 shares during the period. Whittier Trust Co. raised its holdings in Globus Medical by 46.5% during the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after buying an additional 184 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Globus Medical by 202.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock worth $42,000 after buying an additional 383 shares during the period. Finally, Signaturefd LLC raised its holdings in Globus Medical by 41.1% during the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock worth $57,000 after buying an additional 279 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Trading Up 1.8%

GMED opened at $59.61 on Friday. The business has a 50 day moving average of $59.15 and a 200-day moving average of $60.83. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.63 and a beta of 1.12. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last issued its earnings results on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The business had revenue of $745.34 million during the quarter, compared to analyst estimates of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.Globus Medical’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Equities analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the completion of the transaction, the director directly owned 25,384 shares in the company, valued at $1,483,948.64. This represents a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on Globus Medical from $76.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Wall Street Zen cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Morgan Stanley lowered their price target on Globus Medical from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. Royal Bank Of Canada set a $88.00 target price on Globus Medical in a research report on Friday, October 10th. Finally, Canaccord Genuity Group decreased their target price on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.27.

Globus Medical 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.