Teachers Retirement System of The State of Kentucky Sells 980 Shares of Globus Medical, Inc. (NYSE:GMED)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,455 shares of the medical device company’s stock after selling 980 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Globus Medical were worth $2,751,000 at the end of the most recent quarter.

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

Insider Activity at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of Globus Medical 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 transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. The trade was a 5.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction 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 sold 97,500 shares of company stock valued at $7,674,950 in the last ninety days. Insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. BTIG Research boosted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Bank of America upped their price target on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.18.

Globus Medical Trading Down 0.4 %

Shares of GMED opened at $82.42 on Monday. The stock has a market cap of $11.22 billion, a PE ratio of 123.01, a PEG ratio of 1.99 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.14 and a 1 year high of $87.22. The stock has a 50 day simple moving average of $78.81 and a 200-day simple moving average of $72.88.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same period in the prior year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, sell-side analysts forecast that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

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.