Coldstream Capital Management Inc. Has $447,000 Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Coldstream Capital Management Inc. raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 6,219 shares of the medical device company’s stock after acquiring an additional 131 shares during the period. Coldstream Capital Management Inc.’s holdings in Globus Medical were worth $447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical during the 3rd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical during the second quarter worth $33,000. Quarry LP increased its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical in the 2nd quarter valued at $52,000. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. BTIG Research upped their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.18.

Globus Medical Trading Down 0.4 %

Shares of GMED opened at $82.42 on Friday. The firm’s fifty day simple moving average is $78.81 and its two-hundred day simple moving average is $72.83. Globus Medical, Inc. has a 12 month low of $49.14 and a 12 month high of $87.22. The stock has a market capitalization of $11.22 billion, a P/E ratio of 123.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, research analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David D. Davidar sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock worth $7,674,950 in the last ninety days. Corporate insiders own 18.54% of the company’s stock.

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.