GAMMA Investing LLC Has $104,000 Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

GAMMA Investing LLC boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 41.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,258 shares of the medical device company’s stock after acquiring an additional 370 shares during the period. GAMMA Investing LLC’s holdings in Globus Medical were worth $104,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GMED. State Street Corp boosted its position in shares of Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after purchasing an additional 81,371 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Globus Medical by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock worth $172,245,000 after purchasing an additional 35,054 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after purchasing an additional 21,935 shares in the last quarter. Magnetar Financial LLC lifted its position in Globus Medical by 1.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock valued at $117,699,000 after acquiring an additional 29,200 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its position in Globus Medical by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after buying an additional 18,117 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GMED shares. Canaccord Genuity Group increased their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the company from $80.00 to $97.00 in a report on Thursday. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Buying and Selling

In other news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction dated 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 completion of the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The shares were 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 sold 97,500 shares of company stock valued at $7,674,950 over the last quarter. Insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $87.09 on Friday. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $90.48. The firm has a market capitalization of $11.86 billion, a P/E ratio of 129.99, a P/E/G ratio of 1.97 and a beta of 1.19. The company’s 50 day moving average price is $83.06 and its two-hundred day moving average price is $75.16.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. On average, analysts expect that Globus Medical, Inc. will post 2.97 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.