Creative Planning Raises Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Creative Planning boosted its position in Globus Medical, Inc. (NYSE:GMED) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,471 shares of the medical device company’s stock after buying an additional 314 shares during the quarter. Creative Planning’s holdings in Globus Medical were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GMED. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical in the second quarter worth $33,000. GAMMA Investing LLC lifted its holdings in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after acquiring an additional 453 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Globus Medical in the 2nd quarter valued at $52,000. Nisa Investment Advisors LLC grew its holdings in shares of Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after purchasing an additional 160 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Globus Medical by 12.7% during the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock valued at $120,000 after purchasing an additional 252 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Up 9.4 %

NYSE GMED opened at $82.70 on Thursday. The business has a 50-day moving average price of $71.92 and a 200-day moving average price of $68.16. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $84.87. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 275.67, a price-to-earnings-growth ratio of 2.06 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The company’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. Research analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BTIG Research raised their price objective on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Bank of America boosted their price objective on shares of Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday. Roth Mkm reiterated a “buy” rating and set a $100.00 target price on shares of Globus Medical in a report on Wednesday. Stifel Nicolaus boosted their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler increased their price objective on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $87.09.

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction that occurred 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 directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. This represents 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 David D. Davidar sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the sale, the director now directly owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.