Banque Cantonale Vaudoise Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Banque Cantonale Vaudoise raised its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,443 shares of the medical device company’s stock after buying an additional 651 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Globus Medical were worth $560,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of Globus Medical during the 1st quarter valued at $69,000. First Hawaiian Bank purchased a new position in Globus Medical during the first quarter worth about $231,000. Juncture Wealth Strategies LLC bought a new position in Globus Medical in the 1st quarter worth about $362,000. Moody National Bank Trust Division bought a new position in Globus Medical in the 1st quarter worth about $233,000. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Globus Medical in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 566,275 shares in the company, valued at approximately $36,807,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Globus Medical news, Director David D. Davidar sold 20,000 shares of the company’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 transaction, the director now owns 566,275 shares in the company, valued at approximately $36,807,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dan Lemaitre sold 63,300 shares of the 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.

Wall Street Analyst Weigh In

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

Globus Medical Price Performance

GMED opened at $66.52 on Friday. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $67.89. The stock’s 50 day simple moving average is $60.64 and its 200 day simple moving average is $55.70. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 103.94, a PEG ratio of 1.87 and a beta of 1.15.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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 firm 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 quarterly revenue was up 119.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 2.82 EPS for the current year.

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.