Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Diversified Trust Co

Diversified Trust Co raised its holdings in Globus Medical, Inc. (NYSE:GMEDFree Report) by 13.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,691 shares of the medical device company’s stock after acquiring an additional 1,650 shares during the period. Diversified Trust Co’s holdings in Globus Medical were worth $730,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. American Century Companies Inc. increased its position in Globus Medical by 91.2% during the first quarter. American Century Companies Inc. now owns 6,507 shares of the medical device company’s stock worth $480,000 after purchasing an additional 3,104 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Globus Medical by 33.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,578 shares of the medical device company’s stock worth $1,150,000 after buying an additional 3,913 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Globus Medical by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,964 shares of the medical device company’s stock worth $2,137,000 after buying an additional 2,758 shares during the last quarter. BlackRock Inc. raised its position in shares of Globus Medical by 0.7% in the 1st quarter. BlackRock Inc. now owns 7,347,858 shares of the medical device company’s stock worth $542,124,000 after buying an additional 48,913 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Globus Medical by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 42,930 shares of the medical device company’s stock valued at $3,255,000 after acquiring an additional 3,211 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Globus Medical Stock Up 0.6 %

Shares of NYSE GMED opened at $51.96 on Wednesday. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.51 and a beta of 1.09. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. The stock’s 50-day simple moving average is $54.11 and its 200-day simple moving average is $51.20.

Globus Medical (NYSE:GMEDGet Free Report) last released its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business’s revenue was up 124.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. As a group, equities analysts anticipate that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Activity

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now owns 17,419 shares in the company, valued at $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GMED. Truist Financial upped their price target on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Canaccord Genuity Group lifted their price target on shares of Globus Medical from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. BTIG Research upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Globus Medical in a research note on Thursday, January 11th. Finally, Stifel Nicolaus upped their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.33.

Read Our Latest Research Report on GMED

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.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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