Conservest Capital Advisors Inc. Has $464,000 Holdings in Globus Medical, Inc. (NYSE:GMED)

Conservest Capital Advisors Inc. cut its holdings in Globus Medical, Inc. (NYSE:GMED) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,701 shares of the medical device company’s stock after selling 372 shares during the period. Conservest Capital Advisors Inc.’s holdings in Globus Medical were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Globus Medical by 107.5% during the third quarter. SG Americas Securities LLC now owns 16,798 shares of the medical device company’s stock worth $834,000 after buying an additional 8,702 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Globus Medical by 40.8% during the third quarter. State of Alaska Department of Revenue now owns 13,950 shares of the medical device company’s stock worth $692,000 after buying an additional 4,045 shares during the last quarter. Oak Thistle LLC increased its holdings in Globus Medical by 75.0% during the third quarter. Oak Thistle LLC now owns 8,841 shares of the medical device company’s stock worth $439,000 after buying an additional 3,789 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Globus Medical by 182.3% during the third quarter. Handelsbanken Fonder AB now owns 39,697 shares of the medical device company’s stock worth $1,971,000 after buying an additional 25,637 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Globus Medical by 75.3% during the third quarter. Commonwealth Equity Services LLC now owns 10,424 shares of the medical device company’s stock worth $518,000 after buying an additional 4,476 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Globus Medical Price Performance

Shares of GMED stock traded up $0.18 on Friday, reaching $50.55. The company had a trading volume of 545,156 shares, compared to its average volume of 891,173. The stock has a market capitalization of $6.84 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 1.49 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, Inc. has a one year low of $43.38 and a one year high of $62.88. The business’s 50-day moving average is $53.00 and its 200 day moving average is $51.32.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, topping 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 net margin of 7.83% and a return on equity of 8.82%. The business’s revenue for the quarter was up 124.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

Insider Activity

In other news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred 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 transaction, the director now 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 accessible through this link. 24.30% of the stock is currently owned by insiders.

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.