Terril Brothers Inc. Lowers Holdings in Globus Medical, Inc. (NYSE:GMED)

Terril Brothers Inc. lowered its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 95.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,275 shares of the medical device company’s stock after selling 76,675 shares during the quarter. Terril Brothers Inc.’s holdings in Globus Medical were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMED. Farther Finance Advisors LLC lifted its stake in shares of Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC raised its holdings in Globus Medical by 1,007.7% during the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after buying an additional 393 shares during the period. Parallel Advisors LLC raised its holdings in Globus Medical by 62.1% during the 1st quarter. Parallel Advisors LLC now owns 504 shares of the medical device company’s stock valued at $37,000 after buying an additional 193 shares during the period. Versant Capital Management Inc lifted its position in Globus Medical by 932.1% in the first quarter. Versant Capital Management Inc now owns 547 shares of the medical device company’s stock worth $40,000 after buying an additional 494 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Globus Medical by 46.5% during the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock worth $42,000 after buying an additional 184 shares during the period. Institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GMED. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. BTIG Research reissued a “neutral” rating on shares of Globus Medical in a research note on Tuesday, May 27th. Canaccord Genuity Group cut their price objective on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company dropped their target price on shares of Globus Medical from $76.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Globus Medical Stock Up 1.4%

GMED stock opened at $59.46 on Tuesday. Globus Medical, Inc. has a 52 week low of $51.79 and a 52 week high of $94.93. The stock has a market capitalization of $8.05 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The firm has a 50 day moving average of $57.09 and a 200 day moving average of $68.03.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. The firm had revenue of $745.34 million for the quarter, compared to the consensus estimate of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Globus Medical announced that its board has approved a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the medical device company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.