Globus Medical, Inc. (NYSE:GMED) Shares Sold by Compass Ion Advisors LLC

Compass Ion Advisors LLC decreased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 35,592 shares of the medical device company’s stock after selling 1,018 shares during the period. Compass Ion Advisors LLC’s holdings in Globus Medical were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GMED. Select Equity Group L.P. acquired a new stake in shares of Globus Medical during the 2nd quarter worth approximately $91,711,000. Millennium Management LLC lifted its position in shares of Globus Medical by 1,171.5% during the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock valued at $93,409,000 after buying an additional 1,256,570 shares in the last quarter. Magnetar Financial LLC lifted its position in shares of Globus Medical by 198.6% during the 1st quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company’s stock valued at $90,613,000 after buying an additional 1,123,540 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Globus Medical by 1,263.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 848,164 shares of the medical device company’s stock valued at $45,496,000 after buying an additional 785,970 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in shares of Globus Medical by 46.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock valued at $133,018,000 after buying an additional 782,285 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the topic of a number of recent analyst reports. Barclays increased their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Truist Financial raised their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. BTIG Research raised their price objective on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada raised their price objective on Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Insider Buying and Selling

In other news, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares in the company, valued at $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by corporate insiders.

Globus Medical Stock Down 1.4 %

Shares of GMED traded down $1.07 during midday trading on Friday, reaching $72.85. The company had a trading volume of 1,112,080 shares, compared to its average volume of 1,004,875. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $75.98. The stock has a market cap of $9.86 billion, a PE ratio of 113.83, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The firm has a 50 day simple moving average of $70.70 and a 200-day simple moving average of $66.08.

Globus Medical (NYSE:GMED) last issued its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The company’s revenue for the quarter was up 115.9% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

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.