International Assets Investment Management LLC Has $40.23 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

International Assets Investment Management LLC boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 7,318.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,230 shares of the medical device company’s stock after purchasing an additional 55,472 shares during the quarter. International Assets Investment Management LLC’s holdings in Globus Medical were worth $40,230,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GMED. Nisa Investment Advisors LLC raised its position in shares of 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 valued at $80,000 after buying an additional 160 shares in the last quarter. Van ECK Associates Corp lifted its position 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 valued at $3,145,000 after acquiring an additional 183 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Globus Medical by 6.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after purchasing an additional 220 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Globus Medical by 1.5% during the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock worth $1,044,000 after purchasing an additional 228 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Globus Medical by 12.7% in the first quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock worth $120,000 after purchasing an additional 252 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Activity at Globus Medical

In other news, 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 transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by company insiders.

Globus Medical Stock Down 0.6 %

Shares of GMED opened at $73.17 on Monday. The stock has a market cap of $9.91 billion, a PE ratio of 243.90, a PEG ratio of 2.02 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $75.98. The business has a 50-day simple moving average of $71.13 and a two-hundred day simple moving average of $66.82.

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 during the quarter, compared to analyst estimates of $615.33 million. During the same period last year, the company earned $0.63 EPS. Globus Medical’s revenue for the quarter was up 115.9% compared to the same quarter last year. On average, equities research analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GMED. BTIG Research increased their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company raised 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 note on Wednesday, August 7th. Truist Financial upped their target price on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Barclays lifted 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.78.

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.