Globus Medical, Inc. (NYSE:GMED) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 729,924 shares of the medical device company’s stock after selling 18,205 shares during the quarter. Boston Trust Walden Corp’s holdings in Globus Medical were worth $52,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the 3rd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Globus Medical in the second quarter worth $33,000. GAMMA Investing LLC increased its stake in Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Globus Medical during the second quarter valued at $52,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Globus Medical by 15.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after purchasing an additional 160 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the completion of the transaction, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David D. Davidar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the sale, the director now directly owns 536,275 shares of the company’s stock, valued at approximately $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Analyst Ratings Changes

GMED has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. BTIG Research lifted their target price on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Truist Financial increased their price target on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Globus Medical from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays increased their target price on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.78.

Globus Medical Stock Down 0.6 %

Globus Medical stock traded down $0.47 during mid-day trading on Friday, hitting $73.17. 420,464 shares of the company’s stock traded hands, compared to its average volume of 687,592. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98. The firm has a 50 day moving average price of $71.13 and a 200 day moving average price of $66.73. The company has a market cap of $9.91 billion, a PE ratio of 243.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company’s revenue was up 115.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.84 earnings per share 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.