Lightrock Netherlands B.V. Has $14 Million Stake in Globus Medical, Inc. $GMED

Lightrock Netherlands B.V. lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 48.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,150 shares of the medical device company’s stock after acquiring an additional 77,300 shares during the period. Globus Medical makes up about 3.2% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 8th largest holding. Lightrock Netherlands B.V. owned about 0.18% of Globus Medical worth $13,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in GMED. Invesco Ltd. increased its position in shares of Globus Medical by 331.9% during the first quarter. Invesco Ltd. now owns 2,021,156 shares of the medical device company’s stock worth $147,949,000 after acquiring an additional 1,553,154 shares in the last quarter. Nuveen LLC bought a new stake in shares of Globus Medical during the first quarter worth $54,669,000. Truist Financial Corp increased its position in shares of Globus Medical by 640.7% during the first quarter. Truist Financial Corp now owns 508,318 shares of the medical device company’s stock worth $37,209,000 after acquiring an additional 439,693 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Globus Medical by 60.1% during the first quarter. Driehaus Capital Management LLC now owns 873,784 shares of the medical device company’s stock worth $63,961,000 after acquiring an additional 328,040 shares in the last quarter. Finally, Smith Group Asset Management LLC bought a new stake in shares of Globus Medical during the first quarter worth $23,900,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GMED. Canaccord Genuity Group lowered their price objective on shares of Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Royal Bank Of Canada set a $88.00 price objective on shares of Globus Medical in a research report on Friday, October 10th. Wells Fargo & Company lowered their price objective on shares of Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Stifel Nicolaus initiated coverage on shares of Globus Medical in a research report on Tuesday. They issued a “hold” rating and a $64.00 target price for the company. Finally, Wall Street Zen downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.55.

Globus Medical Trading Down 0.7%

Globus Medical stock opened at $62.83 on Wednesday. The company has a market cap of $8.49 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.73 and a beta of 1.12. Globus Medical, Inc. has a 1-year low of $51.79 and a 1-year high of $94.93. The company has a fifty day simple moving average of $59.39 and a 200 day simple moving average of $60.34.

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

Insider Buying and Selling

In other Globus Medical news, Director Ann D. Rhoads sold 10,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $58.46, for a total value 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. This trade represents a 28.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.54% 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.