Segall Bryant & Hamill LLC Buys 26,047 Shares of Globus Medical, Inc. (NYSE:GMED)

Segall Bryant & Hamill LLC grew its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,737 shares of the medical device company's stock after purchasing an additional 26,047 shares during the period. Segall Bryant & Hamill LLC owned 0.29% of Globus Medical worth $27,739,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GMED. Pathstone Holdings LLC boosted its stake in Globus Medical by 2.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company's stock valued at $2,934,000 after purchasing an additional 1,055 shares during the period. Quest Partners LLC acquired a new stake in Globus Medical in the 3rd quarter valued at approximately $523,000. Sheaff Brock Investment Advisors LLC raised its stake in Globus Medical by 0.8% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 39,024 shares of the medical device company's stock valued at $2,792,000 after acquiring an additional 321 shares in the last quarter. KBC Group NV raised its stake in Globus Medical by 0.5% during the 3rd quarter. KBC Group NV now owns 45,505 shares of the medical device company's stock valued at $3,255,000 after acquiring an additional 237 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its position in Globus Medical by 1.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company's stock worth $114,330,000 after acquiring an additional 18,117 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Kelly Huller sold 5,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction dated 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. In the last three months, insiders sold 110,000 shares of company stock valued at $8,512,850. 18.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GMED has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Globus Medical from $74.00 to $83.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Bank of America boosted their price objective on Globus Medical from $55.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, November 6th. Roth Mkm reaffirmed a "buy" rating and set a $100.00 target price on shares of Globus Medical in a research note on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Finally, Truist Financial increased their target price on shares of Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.18.

Globus Medical Price Performance

GMED traded up $0.23 during mid-day trading on Wednesday, hitting $83.55. The stock had a trading volume of 494,076 shares, compared to its average volume of 1,002,806. Globus Medical, Inc. has a 1-year low of $44.02 and a 1-year high of $84.87. The firm has a market capitalization 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. The stock's fifty day simple moving average is $73.88 and its 200-day simple moving average is $70.26.

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