Pembroke Management LTD Has $40.69 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Pembroke Management LTD cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,709 shares of the medical device company's stock after selling 18,930 shares during the period. Globus Medical comprises approximately 5.3% of Pembroke Management LTD's portfolio, making the stock its 2nd largest position. Pembroke Management LTD owned 0.42% of Globus Medical worth $40,685,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GMED. Stephens Inc. AR lifted its stake in shares of Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company's stock worth $303,000 after acquiring an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company's stock valued at $403,000 after purchasing an additional 140 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Globus Medical by 15.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company's stock worth $80,000 after buying an additional 160 shares during the period. Van ECK Associates Corp raised its stake in Globus Medical by 0.4% during the second quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company's stock worth $3,145,000 after buying an additional 183 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in Globus Medical by 6.2% in the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company's stock valued at $268,000 after buying an additional 220 shares during the period. Institutional investors own 95.16% of the company's stock.

Globus Medical Stock Up 1.8 %

NYSE GMED traded up $1.34 during trading hours on Friday, reaching $74.88. 686,225 shares of the company were exchanged, compared to its average volume of 691,736. The stock has a market capitalization of $10.14 billion, a P/E ratio of 249.60, a P/E/G ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $75.98. The business's 50 day simple moving average is $71.56 and its 200-day simple moving average is $67.71.

Globus Medical (NYSE:GMED - Get Free Report) last posted 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 net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million for the quarter, compared to analysts' expectations of $615.33 million. During the same quarter in the previous year, the firm posted $0.63 EPS. Globus Medical's revenue was up 115.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Analysts Set New Price Targets

GMED has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Barclays upped 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. Morgan Stanley upped their target price on shares of Globus Medical from $67.00 to $71.00 and gave the stock an "equal weight" rating in a report on Monday, July 15th. Royal Bank of Canada raised 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, Truist Financial lifted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Globus Medical currently has an average rating of "Moderate Buy" and a consensus price target of $77.78.

Insider Buying and Selling

In other Globus Medical 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 transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares of the company's stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Globus Medical 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 completion of the transaction, the director now owns 536,275 shares of the company's stock, valued at $40,242,076. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares in the company, 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. 18.54% of the stock is currently owned by insiders.

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.