Thrivent Financial for Lutherans Has $41.93 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Thrivent Financial for Lutherans lessened its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 612,163 shares of the medical device company’s stock after selling 21,478 shares during the period. Thrivent Financial for Lutherans’ holdings in Globus Medical were worth $41,927,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GMED. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical in the 2nd quarter valued at $33,000. GAMMA Investing LLC grew its holdings in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after buying an additional 453 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Globus Medical in the 1st quarter valued at $50,000. International Assets Investment Management LLC acquired a new position in shares of Globus Medical in the 2nd quarter valued at $52,000. Finally, Mather Group LLC. acquired a new position in shares of Globus Medical in the 1st quarter valued at $69,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $70.64 on Monday. The company’s 50-day moving average price is $70.88 and its two-hundred day moving average price is $63.61. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $74.21. The stock has a market capitalization of $9.56 billion, a PE ratio of 110.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The firm had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same period in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 115.9% on a year-over-year basis. On average, analysts anticipate that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GMED shares. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. BTIG Research upped their target price on shares of Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Barclays upped their target price on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Truist Financial upped their target price on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their target price on shares of Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.20.

Insiders Place Their Bets

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the director now directly owns 16,419 shares in the company, valued at $1,149,330. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

About Globus Medical

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.