Van ECK Associates Corp Has $243,000 Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Van ECK Associates Corp trimmed its stake in Globus Medical, Inc. (NYSE:GMED) by 95.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,934 shares of the medical device company’s stock after selling 59,571 shares during the quarter. Van ECK Associates Corp’s holdings in Globus Medical were worth $243,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GMED. Quarry LP grew its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock valued at $104,000 after purchasing an additional 370 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Globus Medical by 16.3% during the fourth quarter. Mather Group LLC. now owns 1,356 shares of the medical device company’s stock valued at $112,000 after purchasing an additional 190 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Down 4.4 %

Shares of NYSE GMED opened at $80.43 on Monday. The firm has a fifty day simple moving average of $86.72 and a two-hundred day simple moving average of $79.16. The firm has a market capitalization of $10.95 billion, a PE ratio of 107.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. On average, sell-side analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GMED. BTIG Research raised their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial raised their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Roth Mkm raised their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Stifel Nicolaus raised their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday. Finally, Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $96.91.

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.