Mutual of America Capital Management LLC Lowers Position in Globus Medical, Inc. (NYSE:GMED)

Mutual of America Capital Management LLC trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,485 shares of the medical device company’s stock after selling 4,251 shares during the period. Mutual of America Capital Management LLC’s holdings in Globus Medical were worth $4,417,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Globus Medical in the 2nd quarter worth about $33,000. GAMMA Investing LLC grew its holdings in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares during the period. International Assets Investment Management LLC bought a new position in shares of Globus Medical during the second quarter valued at approximately $52,000. YHB Investment Advisors Inc. bought a new stake in shares of Globus Medical in the 1st quarter worth approximately $50,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Globus Medical by 15.9% in 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 during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In other news, Director Leslie V. Norwalk sold 1,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was 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 directly owns 16,419 shares in the company, valued at approximately $1,149,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the transaction, the director now directly owns 16,419 shares in the company, valued at approximately $1,149,330. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The disclosure for this sale can be found here. 18.54% of the stock is owned by corporate insiders.

Globus Medical Price Performance

NYSE GMED opened at $70.64 on Friday. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $74.21. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 110.38, a PEG ratio of 1.91 and a beta of 1.17. The business’s fifty day moving average price is $70.88 and its 200-day moving average price is $63.54.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The business had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 115.9% on a year-over-year basis. Equities research analysts anticipate that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. BTIG Research increased their price objective on shares of Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada raised their price objective on shares of Globus Medical from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley raised their price target on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Globus Medical has a consensus rating of “Moderate Buy” and an average target price of $77.20.

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.