SG Americas Securities LLC Sells 8,188 Shares of Globus Medical, Inc. (NYSE:GMED)

SG Americas Securities LLC lessened its holdings in Globus Medical, Inc. (NYSE:GMED) by 67.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,937 shares of the medical device company’s stock after selling 8,188 shares during the quarter. SG Americas Securities LLC’s holdings in Globus Medical were worth $282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Leeward Investments LLC MA raised its holdings in Globus Medical by 27.6% in the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after buying an additional 48,047 shares during the last quarter. Van ECK Associates Corp increased its position in Globus Medical by 33.0% during the 1st quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock valued at $2,453,000 after purchasing an additional 11,359 shares during the period. Swedbank AB increased its position in Globus Medical by 15.4% during the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after purchasing an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Globus Medical by 17.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after purchasing an additional 172,605 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Globus Medical during the 1st quarter valued at approximately $429,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Truist Financial raised their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. BTIG Research raised their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Barclays raised their price objective 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.78.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares in the company, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now owns 536,275 shares in the company, valued at $40,242,076. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 1.4 %

Shares of NYSE:GMED opened at $72.85 on Monday. The stock’s fifty day simple moving average is $70.70 and its two-hundred day simple moving average is $66.18. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $75.98. The stock has a market cap of $9.86 billion, a PE ratio of 113.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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 return on equity of 8.70% and a net margin of 1.82%. The business had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same period last year, the business earned $0.63 EPS. The business’s revenue was up 115.9% on a year-over-year basis. On average, sell-side analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal 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.