Sector Gamma AS Acquires 12,547 Shares of Globus Medical, Inc. (NYSE:GMED)

Sector Gamma AS lifted its holdings in Globus Medical, Inc. (NYSE:GMED) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 234,374 shares of the medical device company’s stock after purchasing an additional 12,547 shares during the period. Globus Medical accounts for approximately 3.0% of Sector Gamma AS’s portfolio, making the stock its 16th biggest holding. Sector Gamma AS’s holdings in Globus Medical were worth $12,490,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Terril Brothers Inc. increased its stake in shares of Globus Medical by 47.2% in the fourth quarter. Terril Brothers Inc. now owns 79,365 shares of the medical device company’s stock worth $4,229,000 after purchasing an additional 25,450 shares during the period. Truist Financial Corp raised its holdings in Globus Medical by 9.7% in the 4th quarter. Truist Financial Corp now owns 80,784 shares of the medical device company’s stock valued at $4,305,000 after acquiring an additional 7,140 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of Globus Medical by 14.5% in the 4th quarter. Leeward Investments LLC MA now owns 174,141 shares of the medical device company’s stock worth $9,280,000 after acquiring an additional 22,022 shares during the period. Motley Fool Asset Management LLC lifted its position in shares of Globus Medical by 28.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 62,194 shares of the medical device company’s stock worth $3,314,000 after acquiring an additional 13,943 shares during the period. Finally, Duality Advisers LP lifted its position in shares of Globus Medical by 87.0% in the 4th quarter. Duality Advisers LP now owns 14,291 shares of the medical device company’s stock worth $762,000 after acquiring an additional 6,650 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 value of $550,574.10. Following the completion of the sale, the director now directly owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.30% of the company’s stock.

Globus Medical Price Performance

GMED stock traded up $0.18 during midday trading on Friday, reaching $50.55. 545,156 shares of the company’s stock traded hands, compared to its average volume of 891,173. The company has a 50-day simple moving average of $53.00 and a two-hundred day simple moving average of $51.33. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $62.88. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 1.48 and a beta of 1.08. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s revenue was up 124.6% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, analysts anticipate that Globus Medical, Inc. will post 2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, March 18th. Stifel Nicolaus raised their price objective on Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Finally, Truist Financial raised their price objective on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

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.