Raymond James & Associates Has $21.41 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Raymond James & Associates raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,294 shares of the medical device company’s stock after buying an additional 23,349 shares during the period. Raymond James & Associates owned about 0.22% of Globus Medical worth $21,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in Globus Medical by 7.1% during the 1st quarter. Park Avenue Securities LLC now owns 7,288 shares of the medical device company’s stock valued at $391,000 after purchasing an additional 483 shares in the last quarter. Diversified Trust Co increased its stake in shares of Globus Medical by 56.1% in the first quarter. Diversified Trust Co now owns 21,366 shares of the medical device company’s stock valued at $1,146,000 after buying an additional 7,675 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Globus Medical by 25.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 964,092 shares of the medical device company’s stock valued at $51,714,000 after buying an additional 194,900 shares during the last quarter. State of Michigan Retirement System lifted its position in Globus Medical by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 28,361 shares of the medical device company’s stock worth $1,521,000 after buying an additional 700 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in Globus Medical by 27.6% during the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock worth $11,918,000 after acquiring an additional 48,047 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 0.6 %

NYSE:GMED opened at $73.17 on Friday. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $75.98. The stock’s fifty day simple moving average is $71.06 and its 200-day simple moving average is $66.59. The firm has a market capitalization of $9.91 billion, a P/E ratio of 114.33, 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. The firm had revenue of $629.69 million for 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 company’s quarterly revenue was up 115.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, equities research analysts expect that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

GMED has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Truist Financial boosted 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 reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Barclays lifted their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley upped their price target on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.78.

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.