TT International Asset Management LTD Makes New $3.17 Million Investment in Globus Medical, Inc. (NYSE:GMED)

TT International Asset Management LTD purchased a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 44,309 shares of the medical device company's stock, valued at approximately $3,169,000.

Several other institutional investors and hedge funds have also bought and sold shares of GMED. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical during the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical in the second quarter worth about $33,000. Quarry LP raised its position in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after acquiring an additional 433 shares during the period. Farther Finance Advisors LLC raised 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 worth $39,000 after acquiring an additional 385 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Globus Medical in the second quarter worth about $52,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 112,500 shares of company stock worth $8,730,350 in the last ninety days. 18.54% of the stock is owned by corporate insiders.

Globus Medical Stock Down 0.0 %

Shares of Globus Medical stock traded down $0.04 during mid-day trading on Wednesday, hitting $82.85. The stock had a trading volume of 221,201 shares, compared to its average volume of 991,819. The firm has a 50-day moving average of $77.81 and a two-hundred day moving average of $72.40. Globus Medical, Inc. has a 12-month low of $46.75 and a 12-month high of $87.22. The firm has a market cap of $11.28 billion, a P/E ratio of 124.06, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm's quarterly revenue was up 63.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. Sell-side analysts expect that Globus Medical, Inc. will post 2.97 earnings per share for the current year.

Analyst Ratings Changes

GMED has been the subject of a number of analyst reports. BTIG Research upped their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Roth Mkm reissued a "buy" rating and set a $100.00 target price on shares of Globus Medical in a research note on Wednesday, November 6th. Bank of America boosted their target price on shares of Globus Medical from $55.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, November 6th. Piper Sandler boosted their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of "Moderate Buy" and an average target price of $91.00.

Globus Medical 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.