8,923 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,923 shares of the medical device company’s stock, valued at approximately $611,000.

A number of other institutional investors have also made changes to their positions in GMED. Creative Planning grew its stake in Globus Medical by 16.8% in the second quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock valued at $422,000 after acquiring an additional 886 shares during the period. MidWestOne Financial Group Inc. acquired a new position in Globus Medical in the second quarter valued at about $246,000. Select Equity Group L.P. acquired a new position in Globus Medical in the second quarter valued at about $91,711,000. Lighthouse Investment Partners LLC grew its stake in Globus Medical by 153.6% in the second quarter. Lighthouse Investment Partners LLC now owns 118,623 shares of the medical device company’s stock valued at $8,124,000 after acquiring an additional 71,841 shares during the period. Finally, Millennium Management LLC grew its stake in Globus Medical by 1,171.5% in the second quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after acquiring an additional 1,256,570 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Trading Up 0.8 %

NYSE:GMED opened at $71.15 on Tuesday. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $74.21. The firm has a fifty day simple moving average of $70.52 and a 200 day simple moving average of $65.58. The stock has a market capitalization of $9.63 billion, a PE ratio of 111.17, a P/E/G ratio of 1.94 and a beta of 1.17.

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

Insider Activity at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical 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 completion of the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial boosted their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley upped their price objective on Globus Medical from $67.00 to $71.00 and gave the stock 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. BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.50.

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.