International Assets Investment Management LLC Has $40.23 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

International Assets Investment Management LLC boosted its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 7,318.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,230 shares of the medical device company's stock after buying an additional 55,472 shares during the period. International Assets Investment Management LLC's holdings in Globus Medical were worth $40,230,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in shares of Globus Medical by 7.1% in the first quarter. Park Avenue Securities LLC now owns 7,288 shares of the medical device company's stock valued at $391,000 after purchasing an additional 483 shares in the last quarter. Diversified Trust Co boosted its position in shares of Globus Medical by 56.1% during the 1st quarter. Diversified Trust Co now owns 21,366 shares of the medical device company's stock valued at $1,146,000 after acquiring an additional 7,675 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Globus Medical by 25.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 964,092 shares of the medical device company's stock valued at $51,714,000 after acquiring an additional 194,900 shares during the period. State of Michigan Retirement System raised its position in Globus Medical by 2.5% in the first quarter. State of Michigan Retirement System now owns 28,361 shares of the medical device company's stock worth $1,521,000 after purchasing an additional 700 shares in the last quarter. Finally, Leeward Investments LLC MA lifted its stake in Globus Medical by 27.6% during the first quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company's stock worth $11,918,000 after purchasing an additional 48,047 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GMED. Truist Financial upped their price objective on Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on Globus Medical from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Wells Fargo & Company raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and upped their target price for the stock 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 research report on Wednesday, August 7th. Finally, Barclays raised their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $77.78.

Globus Medical Price Performance

Shares of GMED stock traded up $1.03 on Monday, reaching $74.20. 546,841 shares of the stock were exchanged, compared to its average volume of 990,681. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98. The stock has a market cap of $10.04 billion, a PE ratio of 115.94, a P/E/G ratio of 2.02 and a beta of 1.17. The stock has a 50 day moving average price of $71.13 and a 200 day moving average price of $66.91.

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

Insider Transactions at Globus Medical

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total value of $2,251,200.00. Following the sale, the director now directly owns 536,275 shares in the company, valued at approximately $40,242,076. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares in the company, valued at $40,242,076. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 42,884 shares of the company's stock, 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. Corporate insiders own 18.54% of the company's stock.

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.