Global Alpha Capital Management Ltd. Has $63.32 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Global Alpha Capital Management Ltd. trimmed its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 885,141 shares of the medical device company's stock after selling 73,800 shares during the quarter. Globus Medical makes up about 4.1% of Global Alpha Capital Management Ltd.'s holdings, making the stock its 5th biggest position. Global Alpha Capital Management Ltd. owned 0.65% of Globus Medical worth $63,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stephens Inc. AR increased its position in shares of Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock valued at $303,000 after buying an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock valued at $403,000 after purchasing an additional 140 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Globus Medical by 15.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company's stock valued at $80,000 after purchasing an additional 160 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Globus Medical by 0.4% in the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company's stock valued at $3,145,000 after purchasing an additional 183 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Globus Medical by 6.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company's stock worth $268,000 after acquiring an additional 220 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction 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 sale, the director now owns 42,884 shares of the company's stock, valued at $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,000 shares of company stock worth $8,512,850. Company insiders own 18.54% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on GMED. Canaccord Genuity Group lifted their price objective on Globus Medical from $79.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Wednesday, November 6th. BTIG Research boosted their price objective on Globus Medical from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Truist Financial boosted their price target on Globus Medical from $78.00 to $79.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.18.

Globus Medical Price Performance

Shares of GMED traded up $0.27 during midday trading on Wednesday, hitting $83.59. The stock had a trading volume of 1,038,226 shares, compared to its average volume of 1,005,464. The company has a 50 day simple moving average of $73.88 and a two-hundred day simple moving average of $70.26. The firm has a market cap of $11.38 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, Inc. has a twelve month low of $44.02 and a twelve month high of $84.87.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. 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 posted $0.57 earnings per share. Globus Medical's quarterly revenue was up 63.1% on a year-over-year basis. Analysts forecast that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

About Globus Medical

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.