Anchor Capital Advisors LLC Has $28.08 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Anchor Capital Advisors LLC decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 409,975 shares of the medical device company’s stock after selling 7,077 shares during the period. Anchor Capital Advisors LLC owned 0.30% of Globus Medical worth $28,079,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Globus Medical by 855.3% in the 2nd quarter. Victory Capital Management Inc. now owns 381,253 shares of the medical device company’s stock valued at $26,112,000 after buying an additional 341,342 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Globus Medical during the second quarter valued at about $219,000. Natixis Advisors LLC grew its position in shares of Globus Medical by 12.4% in the second quarter. Natixis Advisors LLC now owns 259,512 shares of the medical device company’s stock valued at $17,774,000 after purchasing an additional 28,638 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Globus Medical in the second quarter worth about $1,013,000. Finally, Van ECK Associates Corp lifted its position in shares of Globus Medical by 0.4% during the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock worth $3,145,000 after purchasing an additional 183 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Down 1.1 %

Shares of GMED opened at $69.99 on Friday. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $74.21. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 109.36, a P/E/G ratio of 2.01 and a beta of 1.17. The company has a 50-day moving average price of $70.71 and a two-hundred day moving average price of $62.51.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The business had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. During the same quarter in the previous year, the firm earned $0.63 EPS. Globus Medical’s quarterly revenue was up 115.9% on a year-over-year basis. Equities research analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GMED shares. Royal Bank of Canada upped their price target on Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Truist Financial raised their price target on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Piper Sandler raised Globus Medical from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $80.00 in a research report on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the director now directly owns 16,419 shares of the company’s stock, valued at $1,149,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.54% of the stock is 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.