Stephens Investment Management Group LLC Has $50.21 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Stephens Investment Management Group LLC increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 701,860 shares of the medical device company’s stock after acquiring an additional 20,946 shares during the period. Stephens Investment Management Group LLC owned about 0.52% of Globus Medical worth $50,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in shares of Globus Medical by 5.3% during the third quarter. State of Alaska Department of Revenue now owns 13,125 shares of the medical device company’s stock worth $938,000 after purchasing an additional 665 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after buying an additional 140 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in Globus Medical by 40.5% during the 3rd quarter. Legacy Capital Group California Inc. now owns 4,234 shares of the medical device company’s stock worth $303,000 after acquiring an additional 1,221 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Globus Medical by 3.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 54,023 shares of the medical device company’s stock valued at $3,865,000 after acquiring an additional 1,558 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Globus Medical by 7,318.2% in the third quarter. International Assets Investment Management LLC now owns 56,230 shares of the medical device company’s stock worth $40,230,000 after acquiring an additional 55,472 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GMED has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays increased their price objective on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.78.

Insider Activity

In related news, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 in the company, 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. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Down 2.0 %

Shares of Globus Medical stock opened at $73.54 on Friday. The business has a fifty day simple moving average of $71.50 and a 200 day simple moving average of $67.33. The stock has a market cap of $9.96 billion, a PE ratio of 245.13, a price-to-earnings-growth ratio of 2.07 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.

Globus Medical (NYSE:GMED) last posted 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 company had revenue of $629.69 million during the quarter, compared to analyst estimates of $615.33 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 115.9% compared to the same quarter last year. Analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

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.