Weatherly Asset Management L. P. Sells 212 Shares of Globus Medical, Inc. (NYSE:GMED)

Weatherly Asset Management L. P. lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,481 shares of the medical device company’s stock after selling 212 shares during the period. Weatherly Asset Management L. P.’s holdings in Globus Medical were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GMED. SG Americas Securities LLC raised its holdings in shares of Globus Medical by 107.5% in the 3rd quarter. SG Americas Securities LLC now owns 16,798 shares of the medical device company’s stock worth $834,000 after acquiring an additional 8,702 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Globus Medical by 40.8% during the third quarter. State of Alaska Department of Revenue now owns 13,950 shares of the medical device company’s stock worth $692,000 after purchasing an additional 4,045 shares during the last quarter. Boston Trust Walden Corp increased its stake in Globus Medical by 6.6% in the 3rd quarter. Boston Trust Walden Corp now owns 747,848 shares of the medical device company’s stock valued at $37,131,000 after buying an additional 46,580 shares during the last quarter. Oak Thistle LLC lifted its position in shares of Globus Medical by 75.0% during the 3rd quarter. Oak Thistle LLC now owns 8,841 shares of the medical device company’s stock worth $439,000 after buying an additional 3,789 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Globus Medical by 182.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 39,697 shares of the medical device company’s stock worth $1,971,000 after buying an additional 25,637 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Down 0.1 %

Shares of NYSE:GMED traded down $0.06 during trading on Wednesday, reaching $51.21. 329,964 shares of the company traded hands, compared to its average volume of 1,122,874. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $62.88. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 1.51 and a beta of 1.08. The business’s fifty day moving average is $53.15 and its 200-day moving average is $51.36.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The business had revenue of $616.53 million during the quarter, compared to analysts’ expectations of $608.21 million. During the same quarter in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 124.6% compared to the same quarter last year. As a group, analysts forecast that Globus Medical, Inc. will post 2.69 EPS for the current year.

Insider Buying and Selling at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares of the company’s stock, valued at $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GMED has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Truist Financial upped their price target on shares of Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Stifel Nicolaus increased their price objective on Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

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.