Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Duality Advisers LP

Duality Advisers LP lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 87.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,291 shares of the medical device company’s stock after acquiring an additional 6,650 shares during the period. Duality Advisers LP’s holdings in Globus Medical were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in Globus Medical in the third quarter worth approximately $28,000. Allworth Financial LP lifted its position in Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after purchasing an additional 254 shares during the period. Nisa Investment Advisors LLC lifted its position in Globus Medical by 122.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after purchasing an additional 823 shares during the period. Wolverine Asset Management LLC acquired a new stake in Globus Medical in the third quarter worth approximately $89,000. Finally, Coldstream Capital Management Inc. acquired a new stake in Globus Medical in the third quarter worth approximately $205,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the transaction, the director now directly owns 17,419 shares of the company’s stock, valued at $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 24.30% of the company’s stock.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $51.44 on Thursday. The company’s fifty day moving average is $53.13 and its two-hundred day moving average is $51.36. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $62.88. The company has a market cap of $6.96 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GMED shares. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Stifel Nicolaus increased their price objective on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial increased their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, BTIG Research upgraded Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.33.

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.