Globus Medical, Inc. (NYSE:GMED) is Paradigm Capital Management Inc. NY’s 9th Largest Position

Paradigm Capital Management Inc. NY cut its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,001,400 shares of the medical device company’s stock after selling 10,000 shares during the period. Globus Medical comprises about 3.1% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 9th biggest position. Paradigm Capital Management Inc. NY owned approximately 0.74% of Globus Medical worth $68,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Magnetar Financial LLC lifted its position in shares of Globus Medical by 198.6% during the 1st quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company’s stock valued at $90,613,000 after buying an additional 1,123,540 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Globus Medical in the fourth quarter worth approximately $42,632,000. Motley Fool Asset Management LLC increased its stake in shares of Globus Medical by 1,263.7% in the first quarter. Motley Fool Asset Management LLC now owns 848,164 shares of the medical device company’s stock worth $45,496,000 after purchasing an additional 785,970 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Globus Medical by 46.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock valued at $133,018,000 after purchasing an additional 782,285 shares during the period. Finally, Champlain Investment Partners LLC lifted its stake in shares of Globus Medical by 25.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,504,383 shares of the medical device company’s stock valued at $134,335,000 after buying an additional 503,745 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GMED shares. Truist Financial boosted their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Barclays boosted their price target on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company upgraded shares of 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. Morgan Stanley boosted their target price on shares of Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Activity at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical 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 of the company’s stock, valued at $1,149,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Globus Medical 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 owns 16,419 shares in the company, valued at $1,149,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now directly 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 currently owned by insiders.

Globus Medical Stock Up 0.8 %

Shares of NYSE:GMED opened at $71.22 on Tuesday. The firm has a fifty day simple moving average of $70.86 and a two-hundred day simple moving average of $63.73. The stock has a market capitalization of $9.64 billion, a P/E ratio of 111.28, a PEG 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, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm’s revenue for the quarter was up 115.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

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.