Godshalk Welsh Capital Management Inc. Has $4.55 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Godshalk Welsh Capital Management Inc. decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,445 shares of the medical device company’s stock after selling 4,590 shares during the period. Globus Medical accounts for about 3.0% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 6th largest holding. Godshalk Welsh Capital Management Inc.’s holdings in Globus Medical were worth $4,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC grew 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 acquiring an additional 160 shares during the period. Van ECK Associates Corp grew its stake in shares of Globus Medical by 0.4% in the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock worth $3,145,000 after buying an additional 183 shares during the last quarter. Radnor Capital Management LLC grew its stake in shares of Globus Medical by 0.7% in the 1st quarter. Radnor Capital Management LLC now owns 29,101 shares of the medical device company’s stock worth $1,561,000 after buying an additional 215 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Globus Medical by 3.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock worth $378,000 after buying an additional 244 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Globus Medical by 12.7% in the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock worth $120,000 after buying an additional 252 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 1.5 %

NYSE:GMED opened at $70.60 on Friday. The business’s 50-day simple moving average is $70.89 and its two-hundred day simple moving average is $63.37. The stock has a market cap of $9.56 billion, a PE ratio of 110.31, a P/E/G ratio of 1.91 and a beta of 1.17. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $629.69 million during 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 business’s quarterly revenue was up 115.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Sell-side analysts anticipate that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GMED. Truist Financial increased their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their target price on Globus Medical from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley increased their target price 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. Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Finally, Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Buying and Selling

In related news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical 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 transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the sale, the director now owns 16,419 shares of the company’s stock, valued at $1,149,330. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

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.