First Hawaiian Bank Buys Shares of 4,306 Globus Medical, Inc. (NYSE:GMED)

First Hawaiian Bank purchased a new position in Globus Medical, Inc. (NYSE:GMED) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,306 shares of the medical device company’s stock, valued at approximately $231,000.

A number of other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in Globus Medical during the 3rd quarter worth approximately $28,000. Allworth Financial LP increased 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 purchasing an additional 254 shares during the period. Quest Partners LLC purchased a new stake in shares of Globus Medical in the fourth quarter worth $81,000. HighPoint Advisor Group LLC bought a new stake in Globus Medical during the fourth quarter valued at $201,000. Finally, Moody National Bank Trust Division purchased a new position in Globus Medical during the first quarter worth about $233,000. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dan Lemaitre sold 63,300 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dan Lemaitre sold 63,300 shares of the business’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 transaction of $4,089,813.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David D. Davidar sold 20,000 shares of the firm’s stock in a transaction 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 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.

Analyst Ratings Changes

GMED has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. Barclays lifted their target price 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. BTIG Research increased their price target 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. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $80.00 in a report on Monday, May 20th. Finally, Stifel Nicolaus increased their target price on Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and a consensus target price of $69.40.

Globus Medical Trading Down 0.7 %

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

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