Cerity Partners LLC Increases Stake in Globus Medical, Inc. (NYSE:GMED)

Cerity Partners LLC increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 25.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,750 shares of the medical device company's stock after acquiring an additional 9,404 shares during the quarter. Cerity Partners LLC's holdings in Globus Medical were worth $3,273,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GMED. Comerica Bank increased its stake in Globus Medical by 0.5% in the first quarter. Comerica Bank now owns 54,814 shares of the medical device company's stock valued at $2,940,000 after purchasing an additional 293 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Globus Medical during the 1st quarter valued at about $204,000. GAMMA Investing LLC grew its position in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company's stock valued at $43,000 after purchasing an additional 453 shares during the period. Juncture Wealth Strategies LLC raised its holdings in Globus Medical by 54.0% during the 2nd quarter. Juncture Wealth Strategies LLC now owns 10,406 shares of the medical device company's stock worth $713,000 after buying an additional 3,648 shares during the period. Finally, Diversified Trust Co raised its holdings in Globus Medical by 6.8% during the 2nd quarter. Diversified Trust Co now owns 22,816 shares of the medical device company's stock worth $1,563,000 after buying an additional 1,450 shares during the period. Institutional investors own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Roth Mkm reissued a "buy" rating and issued a $100.00 target price on shares of Globus Medical in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Wednesday, November 6th. StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. BTIG Research lifted their target price on Globus Medical from $77.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Morgan Stanley increased their price target on Globus Medical from $74.00 to $83.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.18.

Globus Medical Price Performance

NYSE GMED traded up $0.32 during trading hours on Friday, reaching $85.61. The company's stock had a trading volume of 341,367 shares, compared to its average volume of 1,166,657. The firm has a fifty day simple moving average of $76.26 and a 200-day simple moving average of $71.63. The stock has a market cap of $11.66 billion, a P/E ratio of 127.78, a P/E/G ratio of 2.04 and a beta of 1.17. Globus Medical, Inc. has a 52 week low of $44.02 and a 52 week high of $86.00.

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 (EPS) 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 the consensus estimate of $604.69 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The business's quarterly revenue was up 63.1% on a year-over-year basis. On average, research analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Insider Activity

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the company'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 can be accessed through this link. Also, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The shares were 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. Over the last ninety days, insiders sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is owned by company insiders.

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.