Atria Investments Inc Sells 337 Shares of Globus Medical, Inc. (NYSE:GMED)

Atria Investments Inc lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 4.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,682 shares of the medical device company’s stock after selling 337 shares during the quarter. Atria Investments Inc’s holdings in Globus Medical were worth $550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its stake in Globus Medical by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock worth $172,245,000 after purchasing an additional 35,054 shares during the last quarter. Magnetar Financial LLC lifted its stake in Globus Medical by 1.7% during the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock worth $117,699,000 after purchasing an additional 29,200 shares during the last quarter. AXA S.A. lifted its stake in Globus Medical by 0.5% during the second quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock worth $101,245,000 after purchasing an additional 7,443 shares during the last quarter. Millennium Management LLC lifted its stake in Globus Medical by 1,171.5% during the second quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock worth $93,409,000 after purchasing an additional 1,256,570 shares during the last quarter. Finally, Select Equity Group L.P. bought a new stake in Globus Medical during the second quarter worth about $91,711,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $100.00 target price on shares of Globus Medical in a research note on Wednesday, November 6th. BTIG Research boosted 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 boosted their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays boosted their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, 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 research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $88.18.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the company’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 completion of the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $8,512,850 in the last 90 days. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $83.33 on Wednesday. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $84.87. The business’s 50 day moving average price is $73.88 and its two-hundred day moving average price is $70.26. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 124.37, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm 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%. The business’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 EPS. Sell-side analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

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.