Atria Investments Inc Has $550,000 Stock Position in Globus Medical, Inc. (NYSE:GMED)

Atria Investments Inc lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,682 shares of the medical device company’s stock after selling 337 shares during the period. Atria Investments Inc’s holdings in Globus Medical were worth $550,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GMED. Orion Portfolio Solutions LLC grew its stake in Globus Medical by 7.2% during the first quarter. Orion Portfolio Solutions LLC now owns 27,457 shares of the medical device company’s stock worth $1,473,000 after purchasing an additional 1,837 shares during the period. Covestor Ltd boosted its holdings in Globus Medical by 12.7% in the first quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock worth $120,000 after acquiring an additional 252 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Globus Medical by 26.4% in the first quarter. Bessemer Group Inc. now owns 34,951 shares of the medical device company’s stock worth $1,875,000 after acquiring an additional 7,294 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Globus Medical by 0.4% in the first quarter. Gamco Investors INC. ET AL now owns 139,320 shares of the medical device company’s stock worth $7,473,000 after acquiring an additional 616 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Globus Medical by 198.6% in the first quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company’s stock worth $90,613,000 after acquiring an additional 1,123,540 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GMED. Morgan Stanley increased their price target on Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial raised their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group raised their target price on Globus Medical from $79.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.18.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $8,512,850 over the last ninety days. 18.54% of the stock is currently owned by insiders.

Globus Medical Price Performance

NYSE:GMED opened at $83.33 on Wednesday. The business has a fifty day simple moving average of $73.88 and a two-hundred day simple moving average of $70.26. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $84.87. The company has a market capitalization of $11.35 billion, a P/E ratio of 124.37, 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, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same period last year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 63.1% on a year-over-year basis. As a group, analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Globus Medical Company 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.