Weatherly Asset Management L. P. Sells 212 Shares of Globus Medical, Inc. (NYSE:GMED)

Weatherly Asset Management L. P. trimmed its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,481 shares of the medical device company’s stock after selling 212 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Globus Medical were worth $345,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GMED. DekaBank Deutsche Girozentrale acquired a new position in shares of Globus Medical in the 3rd quarter valued at $28,000. Allworth Financial LP lifted its position in Globus Medical by 25.7% during the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after buying an additional 254 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Globus Medical by 122.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after acquiring an additional 823 shares during the period. Wolverine Asset Management LLC purchased a new position in Globus Medical during the third quarter worth about $89,000. Finally, Coldstream Capital Management Inc. acquired a new position in Globus Medical in the third quarter valued at approximately $205,000. 95.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Truist Financial lifted their price target on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Globus Medical in a research note on Thursday, January 11th. Finally, BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.33.

Globus Medical Stock Performance

Shares of NYSE GMED traded down $0.06 during midday trading on Wednesday, reaching $51.21. 329,964 shares of the company traded hands, compared to its average volume of 1,122,874. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $62.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 1.51 and a beta of 1.08. The stock has a 50-day moving average price of $53.15 and a 200 day moving average price of $51.36.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The business had revenue of $616.53 million for the quarter, compared to the consensus estimate of $608.21 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. Globus Medical’s revenue for the quarter was up 124.6% compared to the same quarter last year. Sell-side analysts anticipate that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.30% of the stock is currently owned by corporate insiders.

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.