Leeward Investments LLC MA Sells 6,146 Shares of Globus Medical, Inc. $GMED

Leeward Investments LLC MA decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,706 shares of the medical device company’s stock after selling 6,146 shares during the quarter. Leeward Investments LLC MA owned approximately 0.12% of Globus Medical worth $9,249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GMED. Larson Financial Group LLC boosted its position in Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after purchasing an additional 393 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Globus Medical by 202.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after purchasing an additional 383 shares in the last quarter. Whittier Trust Co. boosted its position in Globus Medical by 46.5% during the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock valued at $42,000 after purchasing an additional 184 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Globus Medical by 237.3% during the first quarter. Jones Financial Companies Lllp now owns 850 shares of the medical device company’s stock valued at $62,000 after purchasing an additional 598 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Globus Medical by 30.9% during the first quarter. First Horizon Advisors Inc. now owns 872 shares of the medical device company’s stock valued at $64,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Activity

In other news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the transaction, the director directly owned 25,384 shares in the company, valued at $1,483,948.64. This trade represents a 28.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 18.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Monday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Globus Medical in a research note on Saturday. Morgan Stanley decreased their price target on Globus Medical from $75.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. Wall Street Zen cut Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company decreased their price target on Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.27.

Globus Medical Stock Down 0.7%

Shares of NYSE:GMED opened at $62.36 on Friday. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.71 and a beta of 1.12. The business has a 50-day moving average price of $59.30 and a 200-day moving average price of $60.57.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm had revenue of $745.34 million during the quarter, compared to analysts’ expectations of $738.91 million. During the same period last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.