GAMMA Investing LLC Acquires 257 Shares of Globus Medical, Inc. (NYSE:GMED)

GAMMA Investing LLC grew its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 888 shares of the medical device company’s stock after buying an additional 257 shares during the quarter. GAMMA Investing LLC’s holdings in Globus Medical were worth $64,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GMED. Nisa Investment Advisors LLC lifted its stake in Globus Medical by 15.9% in the second 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 holdings in shares of Globus Medical by 0.4% during the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock worth $3,145,000 after acquiring an additional 183 shares during the period. Radnor Capital Management LLC raised its position 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 acquiring an additional 215 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after purchasing an additional 220 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Globus Medical by 1.5% during the second quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after purchasing an additional 228 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Up 4.0 %

GMED opened at $74.05 on Wednesday. The company’s 50 day moving average is $70.62 and its 200 day moving average is $65.73. The company has a market cap of $10.02 billion, a price-to-earnings ratio of 115.70, a PEG ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.07. The business 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%. Globus Medical’s revenue for the quarter was up 115.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, analysts predict that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GMED. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $78.00 in a research report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. Morgan Stanley lifted their target price on Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. BTIG Research upped their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays lifted their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average target price of $77.50.

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.