Globus Medical, Inc. (NYSE:GMED) Shares Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lifted its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 68.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,915 shares of the medical device company's stock after acquiring an additional 10,120 shares during the quarter. Lisanti Capital Growth LLC's holdings in Globus Medical were worth $1,782,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. River Global Investors LLP raised its holdings in Globus Medical by 0.7% in the 3rd quarter. River Global Investors LLP now owns 47,067 shares of the medical device company's stock worth $3,366,000 after purchasing an additional 331 shares during the period. Crossmark Global Holdings Inc. boosted its position in Globus Medical by 6.0% during the third quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company's stock worth $554,000 after acquiring an additional 436 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Globus Medical in the third quarter valued at approximately $2,144,000. Van ECK Associates Corp grew its holdings in Globus Medical by 36.1% in the 3rd quarter. Van ECK Associates Corp now owns 62,505 shares of the medical device company's stock valued at $4,618,000 after buying an additional 16,583 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock worth $39,000 after purchasing an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Price Performance

Shares of NYSE GMED traded up $1.11 during midday trading on Monday, hitting $81.99. 1,634,052 shares of the company's stock were exchanged, compared to its average volume of 1,006,657. The firm's fifty day simple moving average is $72.28 and its 200-day simple moving average is $68.70. The company has a market cap of $11.10 billion, a PE ratio of 120.72, a P/E/G ratio of 1.93 and a beta of 1.17. Globus Medical, Inc. has a twelve month low of $43.68 and a twelve month high of $84.87.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company's revenue was up 63.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Equities analysts anticipate that Globus Medical, Inc. will post 2.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GMED shares. Piper Sandler raised their target price on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on shares of Globus Medical from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Monday. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their price target on Globus Medical from $78.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Globus Medical has a consensus rating of "Moderate Buy" and an average target price of $88.18.

Insider Transactions at Globus Medical

In other news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,000 shares of company stock worth $8,512,850. Company insiders own 18.54% of the company's stock.

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.