Great West Life Assurance Co. Can Buys 5,510 Shares of Globus Medical, Inc. (NYSE:GMED)

Great West Life Assurance Co. Can increased its stake in Globus Medical, Inc. (NYSE:GMED – Get Rating) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,998 shares of the medical device company’s stock after buying an additional 5,510 shares during the quarter. Great West Life Assurance Co. Can owned about 0.06% of Globus Medical worth $3,274,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Atria Investments LLC bought a new stake in Globus Medical in the third quarter worth $1,041,000. SG Americas Securities LLC lifted its position in shares of Globus Medical by 2.7% during the third quarter. SG Americas Securities LLC now owns 28,509 shares of the medical device company’s stock worth $1,698,000 after purchasing an additional 753 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Globus Medical by 9.9% during the third quarter. Van ECK Associates Corp now owns 2,899 shares of the medical device company’s stock worth $173,000 after purchasing an additional 261 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Globus Medical by 12.9% during the third quarter. Synovus Financial Corp now owns 13,860 shares of the medical device company’s stock worth $825,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Globus Medical by 28.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 270,824 shares of the medical device company’s stock worth $16,132,000 after purchasing an additional 59,963 shares during the last quarter. 74.23% of the stock is currently owned by institutional investors.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 7,500 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $75.00, for a total transaction of $562,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GMED. Wells Fargo & Company lifted their target price on Globus Medical from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, December 12th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, December 9th. Morgan Stanley lifted their price objective on Globus Medical from $68.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, January 6th. Truist Financial lifted their price objective on Globus Medical from $74.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, December 20th. Finally, Barclays lifted their price objective on Globus Medical from $70.00 to $82.00 in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.00.

Globus Medical Price Performance

GMED opened at $74.16 on Wednesday. The business’s 50-day moving average is $72.64 and its two-hundred day moving average is $65.54. Globus Medical, Inc. has a 1 year low of $52.60 and a 1 year high of $81.78. The firm has a market capitalization of $7.40 billion, a PE ratio of 49.11, a price-to-earnings-growth ratio of 2.84 and a beta of 1.02.

Globus Medical (NYSE:GMED – Get Rating) last posted its earnings results on Tuesday, November 8th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Globus Medical had a net margin of 15.55% and a return on equity of 11.59%. The company had revenue of $254.15 million during the quarter, compared to analysts’ expectations of $252.94 million. As a group, sell-side analysts expect that Globus Medical, Inc. will post 2.03 EPS for the current year.

Globus Medical Company Profile

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Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.