Sequoia Financial Advisors LLC Has $5.16 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Sequoia Financial Advisors LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 0.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,112 shares of the medical device company’s stock after acquiring an additional 152 shares during the period. Sequoia Financial Advisors LLC’s holdings in Globus Medical were worth $5,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the third quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical in the 2nd quarter valued at $33,000. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 453 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Globus Medical during the 2nd quarter valued at $52,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Globus Medical by 15.9% during the 2nd 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 during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays upped their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.78.

Insiders Place Their Bets

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

Globus Medical Price Performance

Shares of Globus Medical stock opened at $73.36 on Wednesday. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98. The stock’s 50-day moving average is $70.83 and its 200 day moving average is $66.49. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 114.63, a PEG ratio of 1.94 and a beta of 1.17.

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

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.