River Global Investors LLP Invests $1.45 Million in Globus Medical, Inc. (NYSE:GMED)

River Global Investors LLP purchased a new position in Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,176 shares of the medical device company’s stock, valued at approximately $1,448,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in Globus Medical in the 3rd quarter valued at about $28,000. Allworth Financial LP raised its position in Globus Medical by 25.7% during the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 254 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Globus Medical by 122.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after purchasing an additional 823 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Globus Medical in the 3rd quarter valued at $89,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Globus Medical in the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GMED. Stifel Nicolaus raised their price objective on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. Finally, Truist Financial boosted their price target on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

Insider Buying and Selling at Globus Medical

In other 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 transaction, the director now directly owns 17,419 shares of the company’s stock, valued at $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.30% of the company’s stock.

Globus Medical Trading Up 2.9 %

Shares of GMED stock traded up $1.47 during trading hours on Friday, hitting $51.95. 1,061,977 shares of the company were exchanged, compared to its average volume of 830,213. The company has a 50 day simple moving average of $52.57 and a two-hundred day simple moving average of $51.20. The firm has a market cap of $7.03 billion, a P/E ratio of 44.40, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. Globus Medical, Inc. has a fifty-two week low of $43.38 and a fifty-two week high of $62.88.

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