Vanguard Personalized Indexing Management LLC Boosts Stock Position in Globus Medical, Inc. (NYSE:GMED)

Vanguard Personalized Indexing Management LLC increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 109.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,793 shares of the medical device company’s stock after purchasing an additional 7,737 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Globus Medical were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in Globus Medical during the 3rd quarter worth about $28,000. Allworth Financial LP increased its position in Globus Medical by 25.7% during the 4th quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after purchasing an additional 254 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Globus Medical by 122.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after purchasing an additional 823 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Globus Medical during the 3rd quarter worth about $89,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Globus Medical during the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $66.53 on Wednesday. The business’s 50-day simple moving average is $54.29 and its 200-day simple moving average is $52.42. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $67.00. The firm has a market capitalization of $9.01 billion, a P/E ratio of 103.95, a P/E/G ratio of 1.80 and a beta of 1.11.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. The company had revenue of $606.67 million for the quarter, compared to analyst estimates of $586.82 million. During the same period in the prior year, the company posted $0.53 EPS. Globus Medical’s quarterly revenue was up 119.3% on a year-over-year basis. On average, equities research analysts expect that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on GMED. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, May 8th. Truist Financial raised their price target on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Barclays raised their price target on Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Stifel Nicolaus raised their price target on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Piper Sandler raised Globus Medical from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $80.00 in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now directly owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David D. Davidar sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total value of $1,300,000.00. Following the sale, the director now directly owns 566,275 shares in the company, valued at $36,807,875. The disclosure for this sale can be found here. Insiders have sold a total of 93,890 shares of company stock valued at $5,940,387 in the last three months. Corporate insiders own 18.54% of the company’s stock.

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.