Aurora Investment Counsel Sells 3,974 Shares of Globus Medical, Inc. (NYSE:GMED)

Aurora Investment Counsel reduced its position in shares of Globus Medical, Inc. (NYSE:GMED) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,516 shares of the medical device company’s stock after selling 3,974 shares during the period. Globus Medical comprises 1.2% of Aurora Investment Counsel’s investment portfolio, making the stock its 25th largest holding. Aurora Investment Counsel’s holdings in Globus Medical were worth $2,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical in the second quarter valued at approximately $33,000. GAMMA Investing LLC lifted its position in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Globus Medical in the 1st quarter valued at $50,000. International Assets Investment Management LLC acquired a new stake in shares of Globus Medical during the second quarter worth $52,000. Finally, Mather Group LLC. bought a new position in Globus Medical during the first quarter worth $69,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of research analyst reports. BTIG Research upped their price target on shares of Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Truist Financial raised their target price on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Morgan Stanley increased their price target on Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average target price of $77.20.

Globus Medical Stock Up 1.3 %

Shares of GMED opened at $71.54 on Tuesday. The business’s fifty day moving average is $70.68 and its 200 day moving average is $64.30. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21. The stock has a market cap of $9.68 billion, a P/E ratio of 111.78, a P/E/G ratio of 1.97 and a beta of 1.17.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business’s quarterly revenue was up 115.9% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current year.

Insider Transactions at Globus Medical

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

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.