Farther Finance Advisors LLC Has $39,000 Stake in Globus Medical, Inc. (NYSE:GMED)

Farther Finance Advisors LLC lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 230.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552 shares of the medical device company’s stock after buying an additional 385 shares during the quarter. Farther Finance Advisors LLC’s holdings in Globus Medical were worth $39,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical during the 3rd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC boosted its holdings in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Globus Medical during the 2nd quarter worth approximately $52,000. Finally, Nisa Investment Advisors LLC lifted its position 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 acquiring an additional 160 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Down 1.7 %

Shares of NYSE GMED opened at $81.10 on Friday. The stock has a fifty day simple moving average of $72.94 and a two-hundred day simple moving average of $69.25. Globus Medical, Inc. has a 1-year low of $44.02 and a 1-year high of $84.87. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 121.04, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. Analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current year.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $8,512,850 in the last three months. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GMED shares. Morgan Stanley raised their target price on Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial raised their price target on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $88.18.

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.