Ameritas Investment Partners Inc. Has $3.02 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Ameritas Investment Partners Inc. trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,056 shares of the medical device company’s stock after selling 1,516 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Globus Medical were worth $3,017,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GMED. Sei Investments Co. boosted its position in shares of Globus Medical by 31.5% in the second quarter. Sei Investments Co. now owns 104,754 shares of the medical device company’s stock worth $7,174,000 after buying an additional 25,112 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Globus Medical by 7.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 333,909 shares of the medical device company’s stock worth $22,869,000 after acquiring an additional 22,624 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Globus Medical during the 2nd quarter worth about $359,000. Burgundy Asset Management Ltd. grew its stake in Globus Medical by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock valued at $172,245,000 after acquiring an additional 35,054 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Globus Medical by 35.3% in the 2nd quarter. XTX Topco Ltd now owns 15,483 shares of the medical device company’s stock valued at $1,060,000 after purchasing an additional 4,043 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Barclays upped their price target 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. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $78.00 in a research report on Wednesday, August 7th. BTIG Research upped their target price on Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Truist Financial raised their price target on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.20.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $70.64 on Friday. The business’s 50-day simple moving average is $70.88 and its 200-day simple moving average is $63.54. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 110.38, a P/E/G ratio of 1.91 and a beta of 1.17.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company’s quarterly revenue was up 115.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, equities research analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 value of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Leslie V. Norwalk sold 1,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on Friday, September 13th. The shares were 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 $3,017,318.24. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

About Globus Medical

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.