US Bancorp DE Has $298,000 Stock Position in Globus Medical, Inc. (NYSE:GMED)

US Bancorp DE decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,170 shares of the medical device company’s stock after selling 145 shares during the quarter. US Bancorp DE’s holdings in Globus Medical were worth $298,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical during the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter valued at $33,000. GAMMA Investing LLC boosted its holdings in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Globus Medical in the 2nd quarter valued at $52,000. Finally, Nisa Investment Advisors LLC raised its holdings 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 buying an additional 160 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Down 1.0 %

NYSE GMED opened at $82.55 on Thursday. The business’s 50-day moving average price is $72.69 and its two-hundred day moving average price is $69.16. Globus Medical, Inc. has a 12 month low of $44.02 and a 12 month high of $84.87. The firm has a market capitalization of $11.18 billion, a PE ratio of 123.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their target price on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, November 6th. Roth Mkm reaffirmed a “buy” rating and set a $100.00 price target on shares of Globus Medical in a report on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.18.

Insider Activity at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $8,512,850 in the last quarter. Company insiders own 18.54% of the company’s stock.

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.