Angeles Wealth Management LLC Has $297,000 Holdings in Globus Medical, Inc. $GMED

Angeles Wealth Management LLC lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 38.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,039 shares of the medical device company’s stock after purchasing an additional 1,389 shares during the quarter. Angeles Wealth Management LLC’s holdings in Globus Medical were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in 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 buying an additional 240 shares in the last quarter. GAMMA Investing LLC boosted its stake in Globus Medical by 20.3% in the 1st quarter. GAMMA Investing LLC now owns 1,514 shares of the medical device company’s stock valued at $111,000 after buying an additional 256 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Globus Medical by 16.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,068 shares of the medical device company’s stock valued at $1,323,000 after buying an additional 2,576 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Globus Medical by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 13,320 shares of the medical device company’s stock valued at $975,000 after buying an additional 350 shares in the last quarter. Finally, TT International Asset Management LTD acquired a new stake in Globus Medical in the 1st quarter valued at $2,799,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Canaccord Genuity Group decreased their price target on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $88.00 price target on Globus Medical in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.27.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 10,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the completion of the sale, the director owned 25,384 shares in the company, valued at $1,483,948.64. The trade was a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.51% of the stock is currently owned by insiders.

Globus Medical Stock Performance

Shares of GMED opened at $59.61 on Friday. The stock has a fifty day moving average price of $59.15 and a two-hundred day moving average price of $60.93. Globus Medical, Inc. has a 52-week low of $51.79 and a 52-week high of $94.93. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.60 and a beta of 1.12.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The firm had revenue of $745.34 million during the quarter, compared to the consensus estimate of $738.91 million. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

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.