Oak Thistle LLC Sells 8,597 Shares of Globus Medical, Inc. (NYSE:GMED)

Oak Thistle LLC decreased its holdings in Globus Medical, Inc. (NYSE:GMED) by 53.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,440 shares of the medical device company’s stock after selling 8,597 shares during the quarter. Oak Thistle LLC’s holdings in Globus Medical were worth $399,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GMED. Vanguard Group Inc. raised its stake in shares of Globus Medical by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,277,722 shares of the medical device company’s stock worth $600,990,000 after buying an additional 32,220 shares during the period. Wellington Management Group LLP raised its stake in Globus Medical by 9.5% during the 4th quarter. Wellington Management Group LLP now owns 2,912,454 shares of the medical device company’s stock worth $155,205,000 after acquiring an additional 252,510 shares during the period. JPMorgan Chase & Co. lifted its holdings in Globus Medical by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 2,131,868 shares of the medical device company’s stock valued at $105,847,000 after purchasing an additional 231,773 shares in the last quarter. Norges Bank bought a new position in shares of Globus Medical in the fourth quarter worth approximately $95,537,000. Finally, GW&K Investment Management LLC increased its stake in shares of Globus Medical by 5.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,759,983 shares of the medical device company’s stock worth $93,789,000 after purchasing an additional 96,713 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In related news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Globus Medical news, Director David D. Davidar sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the director now owns 566,275 shares in the company, valued at $36,807,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total value of $4,089,813.00. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 0.8 %

Shares of GMED stock opened at $67.92 on Tuesday. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $69.77. The stock’s 50-day moving average price is $62.32 and its 200-day moving average price is $56.51. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 106.13, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15.

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, topping the consensus estimate of $0.55 by $0.17. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. The firm had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 119.3% compared to the same quarter last year. As a group, research analysts predict that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GMED. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $80.00 in a report on Monday, May 20th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. BTIG Research boosted their price target on Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Barclays increased their price objective on shares of Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their target price on shares of Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and an average price target of $69.40.

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.