Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Swedbank AB

Swedbank AB raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 6.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 400,000 shares of the medical device company’s stock after acquiring an additional 25,000 shares during the quarter. Swedbank AB’s holdings in Globus Medical were worth $28,616,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 160 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Globus Medical by 0.4% during the second 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. Radnor Capital Management LLC grew its stake in Globus Medical by 0.7% in the first quarter. Radnor Capital Management LLC now owns 29,101 shares of the medical device company’s stock worth $1,561,000 after purchasing an additional 215 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Globus Medical by 6.2% in the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after buying an additional 220 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Globus Medical by 1.5% during the second quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $74.85 on Thursday. The company has a market cap of $10.13 billion, a PE ratio of 116.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The firm has a fifty day moving average price of $70.71 and a two-hundred day moving average price of $65.79. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $75.98.

Globus Medical (NYSE:GMED) last issued its 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. The firm had revenue of $629.69 million during the quarter, compared to analysts’ expectations of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. Globus Medical’s quarterly revenue was up 115.9% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. Analysts expect that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

GMED has been the topic of several research analyst reports. Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Morgan Stanley boosted 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. Truist Financial raised their target price on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, BTIG Research upped their target price on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Globus Medical Company 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.