V Square Quantitative Management LLC Makes New Investment in Globus Medical, Inc. (NYSE:GMED)

V Square Quantitative Management LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 379 shares of the medical device company’s stock, valued at approximately $27,000.

Other large investors also recently added to or reduced their stakes in the company. Leeward Investments LLC MA lifted its position in Globus Medical by 27.6% during the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after purchasing an additional 48,047 shares during the period. Van ECK Associates Corp lifted its position in Globus Medical by 33.0% during the 1st quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock valued at $2,453,000 after purchasing an additional 11,359 shares during the period. Swedbank AB lifted its position in Globus Medical by 15.4% during the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after purchasing an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Globus Medical by 17.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after purchasing an additional 172,605 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Globus Medical during the 1st quarter valued at about $429,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares of the company’s stock, valued at $40,242,076. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

NYSE GMED opened at $73.49 on Tuesday. The business has a 50 day simple moving average of $70.71 and a 200 day simple moving average of $66.33. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $75.98. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The business 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 revenue for the quarter was up 115.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. On average, analysts predict that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GMED. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $78.00 in a research report on Wednesday, August 7th. Truist Financial increased their price target on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. BTIG Research increased their price target on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays increased their price target on shares of Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.78.

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.