2 weeks Ago By ABMN Staff
Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical, Inc. ( NYSE:GMED – Free Report ) in the 2nd quarter, Holdings Channel.com reports.
The firm acquired 475 shares of the medical device company’s stock, valued at approximately $33,000. Several other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc.
lifted its holdings in shares of Globus Medical by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc.
now owns 7,094 shares of the medical device company’s stock worth $378,000 after acquiring an additional 244 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd.
lifted its holdings in shares of Globus Medical by 17.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co.
Ltd. now owns 12,009 shares of the medical device company’s stock worth $624,000 after acquiring an additional 1,825 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Globus Medical by 109.
7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,793 shares of the medical device company’s stock valued at $788,000 after buying an additional 7,737 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Globus Medical by 221.
6% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,075 shares of the medical device company’s stock valued at $1,496,000 after buying an additional 19,346 shares during the period. Finally, Norges Bank acquired a new position in shares of Globus Medical in the fourth quarter valued at approximately $95,537,000.
Institutional investors own 95.16% of the company’s stock. Wall Street Analysts Forecast Growth Several research analysts have recently issued reports on GMED shares.
Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of Globus Medical from $76.00 to $78.
00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler raised shares of Globus Medical from a “neutral” rating to an “overweight” rating and increased their target price for the company from $60.00 to $80.
00 in a research report on Monday, May 20th. Wells Fargo & Company raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $78.
00 in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their target price on shares of Globus Medical from $67.00 to $71.
00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and an average price target of $77.
20. Insider Buying and Selling In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction dated Thursday, July 11th.
The stock was sold at an average price of $70.00, for a total transaction of $70,000.00.
Following the completion of the transaction, the director now owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link . 18.
54% of the stock is currently owned by insiders. Globus Medical Stock Up 0.4 % Shares of GMED stock opened at $70.
00 on Tuesday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 109.
38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17.
Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.
21. The firm has a 50 day moving average of $70.87 and a 200-day moving average of $63.
17. Globus Medical ( NYSE:GMED – Get Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.
75 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $615.33 million.
During the same period last year, the business earned $0.63 EPS. The business’s revenue was up 115.
9% on a year-over-year basis. Analysts anticipate that Globus Medical, Inc. will post 2.
84 earnings per share for the current year. Globus Medical Profile ( Free Report ) 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.
Read More Want to see what other hedge funds are holding GMED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globus Medical, Inc. ( NYSE:GMED – Free Report ).
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