Y Intercept Hong Kong Ltd Purchases 8,366 Shares of Globus Medical, Inc. (NYSE:GMED)

Y Intercept Hong Kong Ltd boosted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 72.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,876 shares of the medical device company's stock after buying an additional 8,366 shares during the period. Y Intercept Hong Kong Ltd's holdings in Globus Medical were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Globus Medical in the second quarter valued at $33,000. Quarry LP lifted its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after buying an additional 433 shares during the period. Farther Finance Advisors LLC lifted 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 buying an additional 385 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical in the second quarter valued at $52,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GMED. Royal Bank of Canada increased their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Wells Fargo & Company increased their price target on Globus Medical from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler boosted their price objective on Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a report 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 report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Buying and Selling

In other news, 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 sale, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,500 shares of company stock worth $8,730,350. 18.54% of the stock is owned by company insiders.

Globus Medical Price Performance

Shares of GMED stock traded up $0.05 on Wednesday, hitting $82.94. The stock had a trading volume of 590,181 shares, compared to its average volume of 993,483. The business has a 50 day moving average of $78.06 and a 200 day moving average of $72.52. Globus Medical, Inc. has a 12-month low of $46.75 and a 12-month high of $87.22. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 123.79, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter last year, the business posted $0.57 EPS. 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 2.97 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.