Global Alpha Capital Management Ltd. Has $63.32 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Global Alpha Capital Management Ltd. reduced its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 885,141 shares of the medical device company’s stock after selling 73,800 shares during the quarter. Globus Medical accounts for about 4.1% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 5th biggest position. Global Alpha Capital Management Ltd. owned approximately 0.65% of Globus Medical worth $63,323,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GMED. Stephens Inc. AR increased its holdings in Globus Medical by 3.4% during the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Globus Medical by 2.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after acquiring an additional 140 shares during the period. Nisa Investment Advisors LLC increased its holdings in Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after acquiring an additional 160 shares during the period. Van ECK Associates Corp increased its holdings in Globus Medical by 0.4% during the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock worth $3,145,000 after acquiring an additional 183 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Globus Medical by 6.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after acquiring an additional 220 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Performance

NYSE:GMED opened at $83.33 on Wednesday. The firm has a 50-day simple moving average of $73.88 and a two-hundred day simple moving average of $70.26. The firm has a market cap of $11.35 billion, a P/E ratio of 124.37, a P/E/G ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $84.87.

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 firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, equities research analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GMED shares. Canaccord Genuity Group upped their price objective on shares of Globus Medical from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. BTIG Research upped their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler increased their price target on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.18.

Insider Activity

In related news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 25.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,512,850 in the last 90 days. 18.54% of the stock is currently owned by 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.