Integral Health Asset Management LLC Purchases Shares of 125,000 Globus Medical, Inc. (NYSE:GMED)

Integral Health Asset Management LLC purchased a new stake in Globus Medical, Inc. (NYSE:GMED) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 125,000 shares of the medical device company’s stock, valued at approximately $8,561,000. Integral Health Asset Management LLC owned 0.09% of Globus Medical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter valued at about $33,000. GAMMA Investing LLC increased its position in shares of Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Globus Medical in the first quarter valued at about $50,000. International Assets Investment Management LLC acquired a new stake in shares of Globus Medical in the second quarter valued at about $52,000. Finally, Mather Group LLC. acquired a new stake in shares of Globus Medical in the first quarter valued at about $69,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Performance

Globus Medical stock opened at $70.64 on Monday. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21. The stock has a market capitalization of $9.56 billion, a P/E ratio of 110.38, a PEG ratio of 1.91 and a beta of 1.17. The stock has a 50-day simple moving average of $70.88 and a 200 day simple moving average of $63.61.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The company had revenue of $629.69 million during the quarter, compared to analysts’ expectations of $615.33 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 115.9% on a year-over-year basis. Research analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the director now owns 16,419 shares in the company, valued at $1,149,330. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the sale, the director now directly owns 16,419 shares in the company, valued at $1,149,330. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley lifted their target price on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Barclays lifted their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their target price on Globus Medical from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Truist Financial lifted their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

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.