4,350 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,350 shares of the medical device company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also bought and sold shares of GMED. DekaBank Deutsche Girozentrale bought a new stake in Globus Medical during the third quarter worth about $28,000. Allworth Financial LP lifted its holdings in shares of Globus Medical by 25.7% in the fourth 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 during the last quarter. Quest Partners LLC bought a new position in shares of Globus Medical in the fourth quarter worth about $81,000. Wolverine Asset Management LLC bought a new position in shares of Globus Medical in the third quarter worth about $89,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Globus Medical in the fourth quarter worth about $201,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GMED. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Wednesday, May 8th. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $80.00 in a report on Monday, May 20th. Barclays increased their target price on shares of Globus Medical from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. BTIG Research raised their price objective on shares of Globus Medical from $63.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Truist Financial raised their price objective on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.40.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Dan Lemaitre sold 63,300 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $64.61, for a total transaction of $4,089,813.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David D. Davidar sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the sale, the director now directly owns 566,275 shares of the company’s stock, valued at approximately $36,807,875. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

NYSE:GMED opened at $67.02 on Thursday. The company has a market capitalization of $9.07 billion, a PE ratio of 104.72, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a 50 day simple moving average of $60.05 and a two-hundred day simple moving average of $55.40. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $67.89.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. The business had revenue of $606.67 million during the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company’s revenue for the quarter was up 119.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Research analysts predict that Globus Medical, Inc. will post 2.82 EPS for the current year.

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.