Diversified Trust Co Has $1.15 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Diversified Trust Co increased its stake in Globus Medical, Inc. (NYSE:GMED) by 56.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,366 shares of the medical device company’s stock after acquiring an additional 7,675 shares during the quarter. Diversified Trust Co’s holdings in Globus Medical were worth $1,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GMED. Bridge City Capital LLC lifted its position in shares of Globus Medical by 25.9% in the 1st quarter. Bridge City Capital LLC now owns 75,712 shares of the medical device company’s stock worth $4,061,000 after purchasing an additional 15,576 shares during the period. Radnor Capital Management LLC lifted its holdings in Globus Medical by 0.7% in the first quarter. Radnor Capital Management LLC now owns 29,101 shares of the medical device company’s stock valued at $1,561,000 after buying an additional 215 shares during the period. Tealwood Asset Management Inc. bought a new stake in Globus Medical during the first quarter valued at $1,020,000. Park Avenue Securities LLC grew its holdings in Globus Medical by 7.1% during the 1st quarter. Park Avenue Securities LLC now owns 7,288 shares of the medical device company’s stock worth $391,000 after acquiring an additional 483 shares during the period. Finally, Banque Cantonale Vaudoise raised its position in shares of Globus Medical by 6.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 10,443 shares of the medical device company’s stock worth $560,000 after acquiring an additional 651 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BTIG Research raised their target price on Globus Medical from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Barclays boosted 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. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $80.00 in a research note on Monday, May 20th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, May 8th. Finally, Stifel Nicolaus raised 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.40.

Globus Medical Trading Down 0.8 %

Shares of Globus Medical stock opened at $67.92 on Tuesday. The company has a market capitalization of $9.19 billion, a P/E ratio of 106.13, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15. The stock has a fifty day simple moving average of $62.32 and a 200 day simple moving average of $56.51. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $69.77.

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

About Globus Medical

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.