Swedbank AB Has $28.62 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Swedbank AB lifted its stake in Globus Medical, Inc. (NYSE:GMED) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the medical device company’s stock after purchasing an additional 25,000 shares during the period. Swedbank AB owned 0.30% of Globus Medical worth $28,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Globus Medical by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,151,660 shares of the medical device company’s stock worth $61,776,000 after buying an additional 81,944 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Globus Medical during the 1st quarter worth $404,000. Comerica Bank lifted its stake in shares of Globus Medical by 0.5% in the 1st quarter. Comerica Bank now owns 54,814 shares of the medical device company’s stock valued at $2,940,000 after purchasing an additional 293 shares during the period. Cetera Advisors LLC bought a new position in shares of Globus Medical in the 1st quarter worth $204,000. Finally, Aurora Investment Counsel boosted its position in shares of Globus Medical by 2.4% in the 1st quarter. Aurora Investment Counsel now owns 34,490 shares of the medical device company’s stock worth $1,850,000 after purchasing an additional 810 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the business’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 transaction, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $8,512,850. Insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GMED shares. Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a report on Wednesday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company boosted their price target on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One equities 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Stock Performance

NYSE:GMED opened at $84.49 on Tuesday. The stock has a 50-day simple moving average of $75.05 and a 200 day simple moving average of $71.04. Globus Medical, Inc. has a 52-week low of $44.02 and a 52-week high of $85.33. The company has a market cap of $11.51 billion, a PE ratio of 126.10, a PEG ratio of 2.02 and a beta of 1.17.

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 the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. On average, research analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

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.