Intech Investment Management LLC Purchases 15,283 Shares of Globus Medical, Inc. (NYSE:GMED)

Intech Investment Management LLC grew its position in shares of Globus Medical, Inc. (NYSE:GMED) by 291.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,530 shares of the medical device company’s stock after purchasing an additional 15,283 shares during the quarter. Intech Investment Management LLC’s holdings in Globus Medical were worth $1,469,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the 3rd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical during the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Globus Medical by 254.5% during 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 last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical during the 2nd quarter valued at about $52,000. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GMED shares. Barclays raised their price target on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Morgan Stanley raised their price target on Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Truist Financial raised their price target on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price target on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price objective on Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.18.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of Globus Medical 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is owned by insiders.

Globus Medical Stock Down 0.3 %

GMED opened at $84.49 on Tuesday. The stock has a market cap of $11.51 billion, a PE ratio of 126.10, a PEG ratio of 2.02 and a beta of 1.17. The business has a 50 day moving average of $75.05 and a 200-day moving average of $71.04. Globus Medical, Inc. has a 52 week low of $44.02 and a 52 week high of $85.33.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Equities analysts anticipate that Globus Medical, Inc. will post 2.98 EPS for the current year.

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.