Stephens Investment Management Group LLC Grows Stake in Globus Medical, Inc. (NYSE:GMED)

Stephens Investment Management Group LLC boosted its holdings in Globus Medical, Inc. (NYSE:GMED - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 701,860 shares of the medical device company's stock after purchasing an additional 20,946 shares during the period. Stephens Investment Management Group LLC owned approximately 0.52% of Globus Medical worth $50,211,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its stake in shares of Globus Medical by 5.3% in the third quarter. State of Alaska Department of Revenue now owns 13,125 shares of the medical device company's stock worth $938,000 after buying an additional 665 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globus Medical by 2.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock valued at $403,000 after acquiring an additional 140 shares during the last quarter. Legacy Capital Group California Inc. raised its stake in shares of Globus Medical by 40.5% during the third quarter. Legacy Capital Group California Inc. now owns 4,234 shares of the medical device company's stock valued at $303,000 after acquiring an additional 1,221 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Globus Medical by 3.0% during the third quarter. Assenagon Asset Management S.A. now owns 54,023 shares of the medical device company's stock worth $3,865,000 after purchasing an additional 1,558 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Globus Medical by 7,318.2% in the third quarter. International Assets Investment Management LLC now owns 56,230 shares of the medical device company's stock worth $40,230,000 after purchasing an additional 55,472 shares during the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ann D. Rhoads sold 15,000 shares of the company's stock in a transaction dated 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 $3,017,318.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Ann D. Rhoads sold 15,000 shares of the company's 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 transaction, the director now directly owns 42,884 shares of the company's stock, valued at approximately $3,017,318.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of Globus Medical stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the sale, the director now directly owns 536,275 shares of the company's stock, valued at approximately $40,242,076. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GMED shares. Truist Financial increased their price objective on Globus Medical from $78.00 to $79.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their price target on Globus Medical from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $60.00 to $78.00 in a research report on Wednesday, August 7th. Morgan Stanley raised their target price on shares of Globus Medical from $67.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Monday, July 15th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $77.78.

Globus Medical Price Performance

NYSE:GMED traded up $1.36 during mid-day trading on Friday, hitting $74.90. 686,200 shares of the company's stock were exchanged, compared to its average volume of 984,643. The company has a market cap of $10.14 billion, a PE ratio of 245.13, a P/E/G ratio of 2.07 and a beta of 1.17. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98. The business has a fifty day moving average price of $71.50 and a 200 day moving average price of $67.33.

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 analysts' consensus estimates of $0.68 by $0.07. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The firm had revenue of $629.69 million for the quarter, compared to analysts' expectations of $615.33 million. During the same period in the previous year, the firm posted $0.63 EPS. The business's revenue for the quarter was up 115.9% compared to the same quarter last year. On average, equities analysts forecast that Globus Medical, Inc. will post 2.84 EPS for the current fiscal year.

Globus Medical Company 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.