KBC Group NV Raises Stake in Globus Medical, Inc. (NYSE:GMED)

KBC Group NV increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 0.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 45,505 shares of the medical device company’s stock after buying an additional 237 shares during the quarter. KBC Group NV’s holdings in Globus Medical were worth $3,255,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geneva Capital Management LLC raised its stake in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock valued at $114,330,000 after buying an additional 18,117 shares during the period. Lisanti Capital Growth LLC raised its stake in Globus Medical by 68.4% in the 3rd quarter. Lisanti Capital Growth LLC now owns 24,915 shares of the medical device company’s stock valued at $1,782,000 after acquiring an additional 10,120 shares during the period. River Global Investors LLP lifted its holdings in Globus Medical by 0.7% during the third quarter. River Global Investors LLP now owns 47,067 shares of the medical device company’s stock valued at $3,366,000 after purchasing an additional 331 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Globus Medical by 6.0% during the third quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company’s stock worth $554,000 after purchasing an additional 436 shares during the period. Finally, Radnor Capital Management LLC bought a new stake in shares of Globus Medical in the third quarter valued at approximately $2,144,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In related news, Director David D. Davidar sold 30,000 shares of the stock in a transaction 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 transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $8,512,850 over the last 90 days. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $81.10 on Monday. The company’s 50 day moving average is $73.36 and its 200 day moving average is $69.82. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 121.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a 1-year low of $44.02 and a 1-year high of $84.87.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on GMED. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Roth Mkm reiterated a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. BTIG Research increased their price objective on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays lifted their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.18.

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.