Oak Thistle LLC Buys Shares of 4,547 Globus Medical, Inc. (NYSE:GMED)

Oak Thistle LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, Holdings Channel.com reports. The fund purchased 4,547 shares of the medical device company’s stock, valued at approximately $376,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Globus Medical by 2.3% during the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Globus Medical by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock valued at $172,245,000 after purchasing an additional 35,054 shares during the last quarter. Geode Capital Management LLC increased its position in Globus Medical by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after purchasing an additional 21,935 shares in the last quarter. Magnetar Financial LLC lifted its stake in Globus Medical by 1.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock valued at $117,699,000 after purchasing an additional 29,200 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in shares of Globus Medical by 1.1% during the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after buying an additional 18,117 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Down 0.3 %

GMED opened at $90.41 on Friday. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $91.44. The company has a fifty day moving average of $83.71 and a 200-day moving average of $75.64. The stock has a market cap of $12.31 billion, a PE ratio of 134.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm 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% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Sell-side analysts anticipate that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,667 shares of company stock worth $6,674,554. 18.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of research reports. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Roth Mkm lifted their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Piper Sandler lifted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial upped their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.91.

About Globus Medical

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.