Globus Medical, Inc. (NYSE:GMED) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its position in Globus Medical, Inc. (NYSE:GMED) by 6.2% during the 3rd quarter, Holdings Channel reports. The fund owned 13,693 shares of the medical device company’s stock after selling 900 shares during the quarter. Moran Wealth Management LLC’s holdings in Globus Medical were worth $980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Globus Medical in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC raised its holdings in Globus Medical by 230.5% during the third 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Globus Medical in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’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 transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. This represents a 25.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $8,512,850 over the last quarter. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GMED shares. Roth Mkm reissued a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. Morgan Stanley boosted their target price on Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Bank of America lifted their price target on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Truist Financial upped their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.18.

Globus Medical Price Performance

Shares of GMED opened at $84.97 on Friday. The company’s fifty day moving average price is $74.46 and its 200 day moving average price is $70.45. The company has a market capitalization of $11.57 billion, a PE ratio of 126.82, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. Globus Medical, Inc. has a one year low of $44.02 and a one year high of $85.01.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue was up 63.1% on a year-over-year basis. Analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

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.