Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,051 shares of the medical device company’s stock after acquiring an additional 301 shares during the period. Crossmark Global Holdings Inc.’s holdings in Globus Medical were worth $666,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GMED. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical during the 3rd quarter worth approximately $27,000. Quarry LP boosted its position in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. UMB Bank n.a. increased its position in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,667 shares of company stock valued at $6,674,554. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a report on Thursday, January 9th. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.91.

Globus Medical Price Performance

Shares of GMED opened at $92.82 on Friday. The company has a market cap of $12.64 billion, a P/E ratio of 138.53, a PEG ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $93.67. The stock has a fifty day moving average price of $85.11 and a 200 day moving average price of $76.73.

Globus Medical (NYSE:GMED) last released its quarterly earnings data 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 business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. As a group, research 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.