LGT Financial Advisors LLC Reduces Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

LGT Financial Advisors LLC lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 21.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 550 shares of the medical device company’s stock after selling 150 shares during the period. LGT Financial Advisors LLC’s holdings in Globus Medical were worth $39,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Radnor Capital Management LLC bought a new position in Globus Medical during the third quarter valued at $2,144,000. Van ECK Associates Corp boosted its stake in shares of Globus Medical by 36.1% during the 3rd quarter. Van ECK Associates Corp now owns 62,505 shares of the medical device company’s stock worth $4,618,000 after purchasing an additional 16,583 shares during the period. Farther Finance Advisors LLC grew its holdings in Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. Stephens Inc. AR raised its position in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in Globus Medical by 3.1% in the third quarter. Stephens Investment Management Group LLC now owns 701,860 shares of the medical device company’s stock worth $50,211,000 after purchasing an additional 20,946 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $100.00 target price on shares of Globus Medical in a research note on Wednesday. Canaccord Genuity Group lifted their target price on Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their price target on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical has an average rating of “Moderate Buy” and an average target price of $87.09.

Globus Medical Stock Performance

NYSE GMED opened at $82.70 on Thursday. The company has a market cap of $11.20 billion, a PE ratio of 275.67, a P/E/G ratio of 2.06 and a beta of 1.17. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $84.87. The firm’s 50 day moving average price is $71.92 and its 200-day moving average price is $68.16.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. 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. On average, analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.