Diversified Trust Co Sells 4,070 Shares of Globus Medical, Inc. (NYSE:GMED)

Diversified Trust Co lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 17.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,746 shares of the medical device company’s stock after selling 4,070 shares during the period. Diversified Trust Co’s holdings in Globus Medical were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GMED. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical during the second quarter worth $33,000. GAMMA Investing LLC grew its stake in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Globus Medical during the 2nd quarter valued at about $52,000. Nisa Investment Advisors LLC raised its stake in Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after buying an additional 160 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in Globus Medical in the first quarter worth about $69,000. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the director now owns 16,419 shares of the company’s stock, valued at $1,149,330. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Leslie V. Norwalk sold 1,000 shares of the 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 transaction, the director now directly owns 16,419 shares in the company, valued at $1,149,330. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Performance

Shares of GMED stock opened at $70.06 on Wednesday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 109.47, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $74.21. The company has a 50 day moving average price of $70.48 and a 200 day moving average price of $64.94.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 115.9% compared to the same quarter last year. As a group, equities analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of research reports. Wells Fargo & Company raised 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 research report on Wednesday, August 7th. Morgan Stanley upped 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 raised their price target on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Truist Financial upped their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.40.

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.