Pathstone Holdings LLC Buys 1,055 Shares of Globus Medical, Inc. (NYSE:GMED)

Pathstone Holdings LLC boosted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,007 shares of the medical device company’s stock after buying an additional 1,055 shares during the quarter. Pathstone Holdings LLC’s holdings in Globus Medical were worth $2,934,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Globus Medical in the third quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Globus Medical in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC raised its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Globus Medical by 254.5% in the 2nd 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 period. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical in the 2nd quarter worth $52,000. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Down 0.2 %

GMED stock opened at $84.72 on Monday. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 126.45, a P/E/G ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a twelve month low of $44.02 and a twelve month high of $85.30. The business has a 50 day moving average price of $74.76 and a two-hundred day moving average price of $70.89.

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. The business had revenue of $625.71 million during 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 firm’s revenue was up 63.1% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. On average, equities research analysts anticipate that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Wells Fargo & Company increased their target price on shares of Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, November 6th. BTIG Research increased their price target on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.18.

Insider Activity

In related news, SVP Kelly Huller sold 5,000 shares of the stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is owned by company insiders.

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.