Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP raised its holdings in Globus Medical, Inc. (NYSE:GMED) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 516,887 shares of the medical device company’s stock after purchasing an additional 88,368 shares during the quarter. Artemis Investment Management LLP’s holdings in Globus Medical were worth $42,752,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HB Wealth Management LLC acquired a new position in Globus Medical in the 4th quarter valued at about $301,000. Park Avenue Securities LLC increased its holdings in shares of Globus Medical by 26.4% in the fourth quarter. Park Avenue Securities LLC now owns 7,405 shares of the medical device company’s stock valued at $612,000 after purchasing an additional 1,546 shares during the period. Kathmere Capital Management LLC purchased a new stake in shares of Globus Medical during the fourth quarter worth approximately $23,091,000. Assenagon Asset Management S.A. lifted its holdings in shares of Globus Medical by 77.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 95,898 shares of the medical device company’s stock worth $7,932,000 after purchasing an additional 41,875 shares during the period. Finally, Oak Thistle LLC purchased a new position in Globus Medical in the 4th quarter valued at $376,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of GMED stock opened at $90.84 on Friday. The stock has a fifty day moving average price of $84.08 and a 200 day moving average price of $75.95. The stock has a market cap of $12.37 billion, a PE ratio of 135.57, a P/E/G ratio of 1.80 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $91.44.

Globus Medical (NYSE:GMED) last released its quarterly earnings results 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 business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business’s revenue was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities research analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GMED shares. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, January 9th. Wells Fargo & Company increased their price target on shares of Globus Medical from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.91.

Insiders Place Their Bets

In other Globus Medical news, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total transaction of $4,801,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,667 shares of company stock worth $6,674,554. Insiders own 18.54% of the company’s stock.

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.