Oak Thistle LLC Raises Stock Position in Globus Medical, Inc. (NYSE:GMED)

Oak Thistle LLC grew its holdings in Globus Medical, Inc. (NYSE:GMEDFree Report) by 81.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,037 shares of the medical device company’s stock after acquiring an additional 7,196 shares during the period. Oak Thistle LLC’s holdings in Globus Medical were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GMED. Washington Capital Management Inc. purchased a new stake in Globus Medical during the 4th quarter worth $554,000. Fort Washington Investment Advisors Inc. OH increased its stake in Globus Medical by 67.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 514,248 shares of the medical device company’s stock worth $27,404,000 after buying an additional 206,978 shares during the period. Pacer Advisors Inc. increased its stake in Globus Medical by 76.0% during the 4th quarter. Pacer Advisors Inc. now owns 17,339 shares of the medical device company’s stock worth $924,000 after buying an additional 7,486 shares during the period. SG Americas Securities LLC increased its stake in Globus Medical by 854.5% during the 4th quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock worth $8,544,000 after buying an additional 143,540 shares during the period. Finally, Radnor Capital Management LLC increased its stake in Globus Medical by 12.9% during the 4th quarter. Radnor Capital Management LLC now owns 28,886 shares of the medical device company’s stock worth $1,539,000 after buying an additional 3,295 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

GMED has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial lifted their price target on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, March 18th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.33.

View Our Latest Stock Report on GMED

Globus Medical Price Performance

Shares of NYSE GMED opened at $51.79 on Wednesday. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $62.88. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. The business has a 50 day simple moving average of $53.53 and a 200-day simple moving average of $51.26.

Globus Medical (NYSE:GMEDGet Free Report) last announced its earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 124.6% compared to the same quarter last year. As a group, equities research analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current year.

Insider Buying and Selling at Globus Medical

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

Globus Medical Company 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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