Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,253 shares of the medical device company’s stock after acquiring an additional 3,141 shares during the period. Sequoia Financial Advisors LLC’s holdings in Globus Medical were worth $6,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical during the 4th quarter worth $27,000. Quarry LP lifted its position in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $69.61 on Friday. The company has a 50-day simple moving average of $85.09 and a 200-day simple moving average of $79.69. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. As a group, research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GMED. Barclays lifted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. StockNews.com raised shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Friday, February 21st. Finally, Truist Financial boosted their price target on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $97.82.

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.