Sheaff Brock Investment Advisors LLC Increases Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Sheaff Brock Investment Advisors LLC boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,024 shares of the medical device company’s stock after buying an additional 321 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Globus Medical were worth $2,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its holdings in Globus Medical by 12.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 85,429 shares of the medical device company’s stock worth $4,839,000 after purchasing an additional 9,754 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Globus Medical by 7.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 27,457 shares of the medical device company’s stock worth $1,473,000 after purchasing an additional 1,837 shares in the last quarter. Nicolet Advisory Services LLC acquired a new position in shares of Globus Medical during the 1st quarter worth $309,000. Covestor Ltd raised its stake in shares of Globus Medical by 12.7% during the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock worth $120,000 after buying an additional 252 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Globus Medical by 25.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,504,383 shares of the medical device company’s stock valued at $134,335,000 after purchasing an additional 503,745 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Down 1.7 %

Shares of GMED opened at $81.10 on Friday. The company has a market capitalization of $10.98 billion, a PE ratio of 121.04, a PEG ratio of 1.97 and a beta of 1.17. The stock’s 50-day moving average price is $72.94 and its two-hundred day moving average price is $69.25. Globus Medical, Inc. has a 12 month low of $44.02 and a 12 month high of $84.87.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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 business had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities research analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research boosted their target price on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial raised their price objective on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley boosted their target price on Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.18.

Globus Medical Company 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.