Nomura Holdings Inc. Has $1 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Nomura Holdings Inc. lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 67.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,790 shares of the medical device company’s stock after selling 38,845 shares during the period. Nomura Holdings Inc.’s holdings in Globus Medical were worth $1,001,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Globus Medical by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,277,722 shares of the medical device company’s stock valued at $600,990,000 after purchasing an additional 32,220 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Globus Medical by 9.5% in the 4th quarter. Wellington Management Group LLP now owns 2,912,454 shares of the medical device company’s stock valued at $155,205,000 after acquiring an additional 252,510 shares during the last quarter. Hawk Ridge Capital Management LP boosted its holdings in shares of Globus Medical by 31.9% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,225,772 shares of the medical device company’s stock valued at $110,510,000 after acquiring an additional 537,972 shares in the last quarter. JPMorgan Chase & Co. grew its position in Globus Medical by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,131,868 shares of the medical device company’s stock worth $105,847,000 after acquiring an additional 231,773 shares during the last quarter. Finally, Norges Bank acquired a new position in Globus Medical in the 4th quarter worth about $95,537,000. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GMED shares. Stifel Nicolaus lifted their price target on Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. BTIG Research boosted their target price on shares of Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Barclays upped their price target on shares of Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $80.00 in a report on Monday, May 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $69.40.

Globus Medical Trading Down 0.0 %

Shares of GMED opened at $67.00 on Friday. The firm’s fifty day simple moving average is $60.34 and its two-hundred day simple moving average is $55.48. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $67.89. The stock has a market capitalization of $9.07 billion, a P/E ratio of 104.69, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, May 7th. The medical device company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.55 by $0.17. The company had revenue of $606.67 million for the quarter, compared to analyst estimates of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. The firm’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 company earned $0.53 EPS. As a group, research analysts predict that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Insider Activity

In related news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through this link. In other Globus Medical news, 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 value of $1,300,000.00. Following the completion of the sale, the director now owns 566,275 shares of the company’s stock, valued at $36,807,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Lemaitre sold 63,300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total value of $4,089,813.00. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

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.