Oak Thistle LLC Has $855,000 Holdings in Globus Medical, Inc. (NYSE:GMED)

Oak Thistle LLC increased its holdings in Globus Medical, Inc. (NYSE:GMEDFree Report) by 81.4% during the fourth quarter, HoldingsChannel reports. The fund owned 16,037 shares of the medical device company’s stock after acquiring an additional 7,196 shares during the quarter. Oak Thistle LLC’s holdings in Globus Medical were worth $855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP purchased a new stake in Globus Medical in the 1st quarter valued at about $27,000. DekaBank Deutsche Girozentrale purchased a new stake in Globus Medical in the 3rd quarter valued at about $28,000. Advisory Services Network LLC increased its stake in Globus Medical by 109.6% in the 1st quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after buying an additional 263 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in Globus Medical in the 4th quarter valued at about $28,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Globus Medical in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Down 2.5 %

GMED opened at $51.79 on Wednesday. The company has a 50 day moving average of $53.53 and a 200 day moving average of $51.26. The company has a market cap of $7.01 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10.

Globus Medical (NYSE:GMEDGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The company had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. Globus Medical’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. On average, sell-side analysts expect that Globus Medical, Inc. will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GMED shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research note on Thursday, January 11th. Truist Financial raised their price target on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. BTIG Research upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, March 18th. Canaccord Genuity Group raised their price target on shares of Globus Medical from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus raised their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Get Our Latest Report on Globus Medical

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now directly owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 24.30% of the company’s stock.

Globus Medical Company 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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