Leeward Investments LLC MA Raises Stock Position in Globus Medical, Inc. (NYSE:GMED)

Leeward Investments LLC MA grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 14.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 174,141 shares of the medical device company’s stock after acquiring an additional 22,022 shares during the period. Leeward Investments LLC MA’s holdings in Globus Medical were worth $9,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Globus Medical by 49.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock worth $558,339,000 after buying an additional 3,732,959 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Globus Medical by 16.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,010,932 shares of the medical device company’s stock worth $53,873,000 after buying an additional 141,492 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Globus Medical by 854.5% in the 4th quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock worth $8,544,000 after buying an additional 143,540 shares in the last quarter. Sector Gamma AS bought a new stake in shares of Globus Medical in the 3rd quarter worth about $11,014,000. Finally, Barclays PLC lifted its holdings in shares of Globus Medical by 58.8% in the 3rd quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock worth $31,315,000 after acquiring an additional 233,459 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares in the company, valued at approximately $905,613.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 24.30% of the company’s stock.

Globus Medical Trading Up 0.4 %

GMED traded up $0.18 on Friday, reaching $50.55. 545,156 shares of the company traded hands, compared to its average volume of 1,116,806. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $62.88. The firm has a fifty day simple moving average of $53.00 and a two-hundred day simple moving average of $51.33. The company has a market cap of $6.84 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10.

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

Wall Street Analyst Weigh In

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

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.