Globus Medical, Inc. (NYSE:GMED) Holdings Raised by AQR Capital Management LLC

AQR Capital Management LLC increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,241 shares of the medical device company’s stock after purchasing an additional 228 shares during the quarter. AQR Capital Management LLC’s holdings in Globus Medical were worth $1,044,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical in the 2nd quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after acquiring an additional 453 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Globus Medical in the second quarter valued at approximately $52,000. Mather Group LLC. bought a new position in shares of Globus Medical during the first quarter valued at approximately $69,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after purchasing an additional 160 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $3,017,318.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GMED shares. Barclays boosted their price objective 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 increased their price objective on shares of Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $78.00 in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, BTIG Research boosted their price objective on Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.40.

Globus Medical Stock Performance

Shares of GMED stock opened at $70.55 on Friday. The stock has a market cap of $9.55 billion, a PE ratio of 235.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The business’s fifty day moving average is $70.42 and its 200-day moving average is $65.14. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $74.21.

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