Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 28.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,194 shares of the medical device company’s stock after purchasing an additional 13,943 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Globus Medical were worth $3,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $28,000. Allworth Financial LP grew its position in shares of Globus Medical by 25.7% in the 4th quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after acquiring an additional 254 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Globus Medical by 122.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after acquiring an additional 823 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $89,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Globus Medical in the 3rd quarter worth approximately $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the sale, the director now owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.30% of the stock is owned by company insiders.

Globus Medical Stock Performance

Globus Medical stock traded down $1.09 during mid-day trading on Thursday, hitting $50.35. 613,282 shares of the company’s stock traded hands, compared to its average volume of 1,123,952. The firm has a 50 day moving average price of $53.06 and a 200 day moving average price of $51.35. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.82 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $62.88.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, equities analysts forecast that Globus Medical, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GMED shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, March 18th. Stifel Nicolaus boosted their price objective on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Truist Financial boosted their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

About Globus Medical

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.