Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Duality Advisers LP

Duality Advisers LP increased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 87.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,291 shares of the medical device company’s stock after acquiring an additional 6,650 shares during the period. Duality Advisers LP’s holdings in Globus Medical were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Greenleaf Trust acquired a new stake in Globus Medical in the fourth quarter valued at approximately $248,000. Knights of Columbus Asset Advisors LLC grew its holdings in Globus Medical by 96.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 85,107 shares of the medical device company’s stock valued at $4,535,000 after purchasing an additional 41,887 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Globus Medical by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,179 shares of the medical device company’s stock valued at $1,608,000 after purchasing an additional 6,186 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Globus Medical in the fourth quarter valued at approximately $1,727,000. Finally, Cerity Partners LLC acquired a new stake in Globus Medical in the fourth quarter valued at approximately $320,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

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

Globus Medical Stock Performance

Shares of Globus Medical stock opened at $51.44 on Thursday. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $62.88. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.51 and a beta of 1.08. 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 business’s 50 day moving average price is $53.13 and its 200 day moving average price is $51.36.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was up 124.6% compared to the same quarter last year. On average, research analysts predict that Globus Medical, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on GMED. Truist Financial raised their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, March 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a research note on Thursday, January 11th. Finally, Stifel Nicolaus lifted their price target on Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.33.

Globus Medical Company 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.