Radnor Capital Management LLC Acquires New Shares in Globus Medical, Inc. (NYSE:GMED)

Radnor Capital Management LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,971 shares of the medical device company's stock, valued at approximately $2,144,000.

Other large investors also recently made changes to their positions in the company. Select Equity Group L.P. acquired a new position in Globus Medical in the second quarter worth approximately $91,711,000. Millennium Management LLC grew its holdings in Globus Medical by 1,171.5% during the second quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company's stock valued at $93,409,000 after purchasing an additional 1,256,570 shares during the last quarter. Magnetar Financial LLC grew its holdings in Globus Medical by 198.6% during the first quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company's stock valued at $90,613,000 after purchasing an additional 1,123,540 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in Globus Medical by 1,263.7% during the first quarter. Motley Fool Asset Management LLC now owns 848,164 shares of the medical device company's stock valued at $45,496,000 after purchasing an additional 785,970 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in Globus Medical by 46.1% during the first quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company's stock valued at $133,018,000 after purchasing an additional 782,285 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company increased their price target on Globus Medical from $78.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday. Roth Mkm reiterated a "buy" rating and set a $100.00 price target on shares of Globus Medical in a report on Wednesday. Canaccord Genuity Group increased their price objective on Globus Medical from $79.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler increased their price objective on Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Bank of America increased their price objective on Globus Medical from $55.00 to $80.00 and gave the company an "underperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and a consensus price target of $87.09.

Globus Medical Trading Up 9.4 %

Shares of NYSE:GMED traded up $7.13 during trading on Wednesday, hitting $82.71. 3,865,136 shares of the company's stock traded hands, compared to its average volume of 998,129. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $84.87. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 270.17, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17. The company has a 50-day moving average price of $71.69 and a 200-day moving average price of $68.06.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analysts' expectations of $604.69 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. Globus Medical's revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. On average, analysts predict that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the business's stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on 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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of the 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 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 disclosure for this sale can be found here. Insiders own 18.54% of the company's stock.

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.