Eagle Asset Management Inc. Acquires 29,573 Shares of Globus Medical, Inc. (NYSE:GMED)

Eagle Asset Management Inc. boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 403,853 shares of the medical device company's stock after purchasing an additional 29,573 shares during the period. Eagle Asset Management Inc. owned 0.30% of Globus Medical worth $28,892,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the 3rd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Globus Medical during the second quarter worth about $33,000. Farther Finance Advisors LLC lifted its holdings in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after acquiring an additional 385 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $43,000 after acquiring an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Globus Medical during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Globus Medical Stock Performance

Shares of NYSE GMED traded down $0.19 during trading on Friday, hitting $84.72. 966,796 shares of the company traded hands, compared to its average volume of 1,144,324. The firm has a market capitalization 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. The business's fifty day moving average is $74.76 and its 200 day moving average is $70.69. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $85.30.

Globus Medical (NYSE:GMED - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company's quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Barclays upped their price target on shares of Globus Medical from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Truist Financial boosted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price objective on Globus Medical from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, Roth Mkm reissued a "buy" rating and set a $100.00 target price on shares of Globus Medical in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.18.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is owned by company insiders.

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.