Globus Medical, Inc. (NYSE:GMED) Stock Position Raised by Axa S.A.

AXA S.A. raised its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478,242 shares of the medical device company's stock after purchasing an additional 7,443 shares during the period. AXA S.A. owned 1.09% of Globus Medical worth $101,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GMED. Distillate Capital Partners LLC purchased a new stake in Globus Medical during the second quarter worth $13,718,000. Farallon Capital Management LLC purchased a new position in Globus Medical in the 2nd quarter worth $247,000. Bank of Montreal Can grew its position in Globus Medical by 9.4% during the 2nd quarter. Bank of Montreal Can now owns 18,619 shares of the medical device company's stock worth $1,275,000 after purchasing an additional 1,606 shares during the period. Integral Health Asset Management LLC acquired a new stake in Globus Medical during the 2nd quarter worth about $8,561,000. Finally, Magnetar Financial LLC grew its position in shares of Globus Medical by 1.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company's stock valued at $117,699,000 after acquiring an additional 29,200 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical 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 sale, the director now directly owns 42,884 shares of the company's stock, valued at approximately $3,017,318.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical 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 transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the transaction, the director now owns 16,419 shares in the company, valued at approximately $1,149,330. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company's stock.

Globus Medical Stock Performance

Shares of GMED stock traded down $0.74 during mid-day trading on Wednesday, hitting $70.25. 285,203 shares of the stock were exchanged, compared to its average volume of 1,029,984. The stock's fifty day simple moving average is $70.84 and its two-hundred day simple moving average is $63.84. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 110.44, a P/E/G ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business's quarterly revenue was up 115.9% compared to the same quarter last year. On average, research analysts expect that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. BTIG Research lifted their price target on shares of Globus Medical from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Truist Financial lifted their price target on shares of Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Barclays boosted their target price on Globus Medical from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $77.20.

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.