Swedbank AB Acquires 25,000 Shares of Globus Medical, Inc. (NYSE:GMED)

Swedbank AB lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 400,000 shares of the medical device company's stock after purchasing an additional 25,000 shares during the quarter. Swedbank AB owned 0.30% of Globus Medical worth $28,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new position in Globus Medical in the 2nd quarter worth about $33,000. GAMMA Investing LLC boosted its holdings 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 worth $43,000 after purchasing an additional 453 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Globus Medical in the 2nd quarter worth about $52,000. Mather Group LLC. purchased a new position in shares of Globus Medical in the 1st quarter worth about $69,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company's stock valued at $80,000 after acquiring an additional 160 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GMED. Barclays increased their target price on Globus Medical from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Wells Fargo & Company upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $60.00 to $78.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a report on Wednesday, August 7th. Royal Bank of Canada increased their target price on Globus Medical from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, BTIG Research increased their price objective on Globus Medical from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $77.50.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 18.54% of the company's stock.

Globus Medical Price Performance

GMED stock traded down $0.96 on Thursday, reaching $73.92. 969,716 shares of the company traded hands, compared to its average volume of 1,004,342. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98. The company has a market cap of $10.01 billion, a P/E ratio of 115.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The firm has a fifty day simple moving average of $70.71 and a 200-day simple moving average of $65.79.

Globus Medical (NYSE:GMED - Get Free Report) last issued its earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The business had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. During the same period last year, the business posted $0.63 EPS. The company's revenue was up 115.9% compared to the same quarter last year. On average, sell-side analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current year.

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.