Quantbot Technologies LP Invests $2.71 Million in Globus Medical, Inc. (NYSE:GMED)

Quantbot Technologies LP purchased a new position in Globus Medical, Inc. (NYSE:GMED) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,860 shares of the medical device company’s stock, valued at approximately $2,709,000.

Other large investors have also recently made changes to their positions in the company. Swedbank AB raised its holdings in shares of Globus Medical by 15.4% in the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after purchasing an additional 50,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Globus Medical by 17.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock worth $77,852,000 after acquiring an additional 172,605 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Globus Medical during the 2nd quarter valued at approximately $611,000. Quest Partners LLC acquired a new stake in Globus Medical during the 3rd quarter worth about $523,000. Finally, AXA S.A. lifted its holdings in shares of Globus Medical by 0.5% during the second quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after purchasing an additional 7,443 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $8,512,850 over the last quarter. 18.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GMED shares. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.18.

Globus Medical Trading Up 0.9 %

GMED opened at $85.29 on Thursday. The firm’s 50-day moving average price is $75.67 and its 200 day moving average price is $71.27. Globus Medical, Inc. has a twelve month low of $44.02 and a twelve month high of $85.74. The firm has a market capitalization of $11.61 billion, a PE ratio of 127.30, a PEG ratio of 2.02 and a beta of 1.17.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. The firm had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. Globus Medical’s revenue was up 63.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 earnings per share. As a group, analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal 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.