Stifel Financial Corp Has $3.78 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Stifel Financial Corp increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 52,835 shares of the medical device company’s stock after buying an additional 306 shares during the period. Stifel Financial Corp’s holdings in Globus Medical were worth $3,780,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its position in Globus Medical by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock worth $172,245,000 after acquiring an additional 35,054 shares during the last quarter. Magnetar Financial LLC grew its holdings in Globus Medical by 1.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock valued at $117,699,000 after buying an additional 29,200 shares in the last quarter. Geneva Capital Management LLC increased its position in Globus Medical by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after buying an additional 18,117 shares during the period. AXA S.A. lifted its holdings in shares of Globus Medical by 0.5% during the second quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after buying an additional 7,443 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Globus Medical by 1,171.5% in the second quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after acquiring an additional 1,256,570 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Piper Sandler lifted their price objective on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Bank of America upped their target price on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.18.

Globus Medical Stock Down 0.9 %

Shares of GMED stock opened at $81.70 on Tuesday. Globus Medical, Inc. has a twelve month low of $49.14 and a twelve month high of $87.22. The business has a fifty day simple moving average of $79.05 and a 200 day simple moving average of $72.99. The company has a market cap of $11.12 billion, a P/E ratio of 121.94, a P/E/G ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. As a group, equities research analysts anticipate that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,500 shares of company stock valued at $7,674,950. 18.54% of the stock is currently owned by insiders.

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.