Swedbank AB Boosts Holdings in Globus Medical, Inc. (NYSE:GMED)

Swedbank AB increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the medical device company's stock after acquiring an additional 25,000 shares during the period. Swedbank AB owned approximately 0.30% of Globus Medical worth $28,616,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical during the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical in the second quarter valued at $33,000. Farther Finance Advisors LLC increased its position in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after buying an additional 385 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company's stock valued at $43,000 after buying an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Globus Medical during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Truist Financial raised their target price on shares of Globus Medical from $78.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Canaccord Genuity Group increased their target price on Globus Medical from $79.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Piper Sandler boosted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Globus Medical from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.18.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the firm's stock in a transaction that occurred on 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 approximately $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kelly Huller sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is owned by insiders.

Globus Medical Stock Up 0.0 %

Shares of GMED stock traded up $0.04 during trading hours on Tuesday, hitting $84.53. 593,725 shares of the company were exchanged, compared to its average volume of 1,007,328. The firm has a fifty day moving average of $75.05 and a 200 day moving average of $71.04. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $85.33. The firm has a market cap of $11.51 billion, a PE ratio of 126.16, a PEG ratio of 2.02 and a beta of 1.17.

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

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.