Oak Thistle LLC Invests $376,000 in Globus Medical, Inc. (NYSE:GMED)

Oak Thistle LLC acquired a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,547 shares of the medical device company's stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the 3rd quarter valued at approximately $27,000. Quarry LP increased its position in Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. GAMMA Investing LLC boosted its position in Globus Medical by 40.7% in the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock valued at $64,000 after buying an additional 257 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in shares of Globus Medical during the third quarter worth $201,000. Institutional investors own 95.16% of the company's stock.

Insider Buying and Selling

In other Globus Medical news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders sold 81,667 shares of company stock valued at $6,674,554 over the last 90 days. Company insiders own 18.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GMED shares. Royal Bank of Canada increased their price target on Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Morgan Stanley raised Globus Medical from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Piper Sandler upped their price objective on Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $96.91.

Globus Medical Stock Up 0.4 %

Globus Medical stock traded up $0.37 during mid-day trading on Friday, hitting $90.84. 1,863,875 shares of the stock were exchanged, compared to its average volume of 1,429,589. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 135.57, a PEG ratio of 1.80 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $91.44. The firm's fifty day simple moving average is $83.71 and its two-hundred day simple moving average is $75.64.

Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to analysts' expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. Globus Medical's revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. As a group, analysts forecast that Globus Medical, Inc. will post 2.98 earnings per share 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.