Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 33.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,945 shares of the medical device company’s stock after buying an additional 3,022 shares during the quarter. Sanctuary Advisors LLC’s holdings in Globus Medical were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after acquiring an additional 81,371 shares during the period. Burgundy Asset Management Ltd. grew its position in Globus Medical by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock worth $172,245,000 after purchasing an additional 35,054 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after buying an additional 21,935 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of 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 purchasing an additional 29,200 shares during the period. Finally, Geneva Capital Management LLC lifted its position in Globus Medical by 1.1% in 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 in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Up 0.8 %

Shares of Globus Medical stock opened at $82.63 on Monday. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 123.33, a PEG ratio of 1.99 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $87.22. The company’s fifty day simple moving average is $80.02 and its 200-day simple moving average is $73.44.

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

Insider Buying and Selling

In related news, CEO Daniel T. Scavilla sold 60,000 shares of the business’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David D. Davidar sold 30,000 shares of the stock in a transaction 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 transaction, the director now owns 536,275 shares of the company’s stock, valued at $40,242,076. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,500 shares of company stock valued at $7,674,950 over the last ninety days. 18.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on shares of Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BTIG Research raised their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Piper Sandler upped their price target on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and a consensus price target of $94.55.

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.