Globus Medical, Inc. (NYSE:GMED) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,899 shares of the medical device company’s stock after selling 325 shares during the quarter. Globus Medical accounts for about 1.4% of Geneva Capital Management LLC’s portfolio, making the stock its 26th largest position. Geneva Capital Management LLC’s holdings in Globus Medical were worth $75,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in Globus Medical in the third quarter valued at approximately $28,000. 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 worth $66,000 after buying an additional 254 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Globus Medical by 122.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock valued at $74,000 after buying an additional 823 shares during the period. Wolverine Asset Management LLC purchased a new position in Globus Medical in the third quarter valued at $89,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Globus Medical in the third quarter worth about $205,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the transaction, the director now directly owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 24.30% of the company’s stock.

Globus Medical Trading Up 4.3 %

Shares of GMED traded up $2.67 during mid-day trading on Thursday, reaching $64.40. The stock had a trading volume of 2,366,968 shares, compared to its average volume of 1,187,162. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. The business’s fifty day moving average is $52.71 and its 200 day moving average is $51.35. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $65.74. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 55.04, a P/E/G ratio of 1.53 and a beta of 1.11.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The business had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue was up 119.3% compared to the same quarter last year. On average, sell-side analysts predict that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Truist Financial raised their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Barclays boosted their price objective on Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday. BTIG Research raised their target price on Globus Medical from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price target on Globus Medical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.