Bank of Montreal Can Increases Position in Globus Medical, Inc. (NYSE:GMED)

Bank of Montreal Can lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 9.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,619 shares of the medical device company’s stock after buying an additional 1,606 shares during the quarter. Bank of Montreal Can’s holdings in Globus Medical were worth $1,275,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Leeward Investments LLC MA lifted its position in shares of Globus Medical by 27.6% in the first quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after acquiring an additional 48,047 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Globus Medical by 33.0% in the 1st quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock worth $2,453,000 after purchasing an additional 11,359 shares in the last quarter. Swedbank AB boosted its stake in Globus Medical by 15.4% in the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock worth $25,684,000 after purchasing an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Globus Medical by 17.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after buying an additional 172,605 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Globus Medical during the first quarter valued at approximately $429,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE:GMED opened at $70.66 on Friday. The stock’s fifty day moving average is $70.51 and its 200 day moving average is $64.73. The firm has a market capitalization of $9.57 billion, a PE ratio of 110.41, a PEG ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $74.21.

Globus Medical (NYSE:GMED) last released 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. The firm had revenue of $629.69 million during 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 business’s revenue was up 115.9% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Equities analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GMED. Morgan Stanley raised their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. BTIG Research boosted 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. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Truist Financial lifted their price objective on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.20.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction that occurred 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 sale, the director now owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the business’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 completion of the sale, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical 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.