Globus Medical, Inc. (NYSE:GMED) Shares Sold by Cwm LLC

Cwm LLC cut its stake in Globus Medical, Inc. (NYSE:GMED) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 992 shares of the medical device company’s stock after selling 269 shares during the period. Cwm LLC’s holdings in Globus Medical were worth $53,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Globus Medical in the 3rd quarter valued at about $28,000. Allworth Financial LP lifted its stake in Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after buying an additional 254 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Globus Medical by 122.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock valued at $74,000 after acquiring an additional 823 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of Globus Medical during the third quarter worth approximately $89,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Globus Medical in the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the sale, the director now owns 17,419 shares of the company’s stock, valued at $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research increased their price target on shares of Globus Medical from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial lifted their target price on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, Piper Sandler upped their price target on Globus Medical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six 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 currently has an average rating of “Moderate Buy” and a consensus target price of $66.60.

Globus Medical Price Performance

Shares of NYSE GMED opened at $61.61 on Thursday. The company’s fifty day moving average is $52.50 and its two-hundred day moving average is $51.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. The firm has a market capitalization of $8.34 billion, a P/E ratio of 52.66, a PEG ratio of 1.53 and a beta of 1.11. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $65.74.

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

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.