Bank of Montreal Can Has $16.33 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Bank of Montreal Can increased its stake in Globus Medical, Inc. (NYSE:GMED) by 1,142.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,323 shares of the medical device company’s stock after acquiring an additional 212,704 shares during the quarter. Bank of Montreal Can’s holdings in Globus Medical were worth $16,334,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares in the last quarter. GAMMA Investing LLC raised its stake in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Globus Medical in the second quarter worth approximately $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other Globus Medical news, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. 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. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 0.4 %

GMED stock opened at $85.61 on Friday. The business has a 50 day moving average of $76.26 and a 200-day moving average of $71.58. The firm has a market cap of $11.66 billion, a PE ratio of 127.78, a P/E/G ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $86.00.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays upped their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their target price on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price target on Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and an average target price 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.