Globus Medical, Inc. $GMED Shares Bought by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,023 shares of the medical device company’s stock after buying an additional 800 shares during the period. Globus Medical comprises about 2.1% of Sterling Investment Advisors Ltd.’s investment portfolio, making the stock its 10th largest holding. Sterling Investment Advisors Ltd. owned 0.12% of Globus Medical worth $9,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GMED. Farther Finance Advisors LLC boosted its position in shares of Globus Medical by 145.5% during the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock worth $30,000 after buying an additional 240 shares during the period. Larson Financial Group LLC boosted its position in shares of Globus Medical by 1,007.7% during the first quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock worth $32,000 after buying an additional 393 shares during the period. Parallel Advisors LLC boosted its position in shares of Globus Medical by 62.1% during the first quarter. Parallel Advisors LLC now owns 504 shares of the medical device company’s stock worth $37,000 after buying an additional 193 shares during the period. Versant Capital Management Inc boosted its position in shares of Globus Medical by 932.1% during 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 period. Finally, Whittier Trust Co. boosted its position in shares of 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. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GMED has been the subject of several recent research reports. Barclays reaffirmed an “overweight” rating on shares of Globus Medical in a research report on Tuesday, June 10th. Canaccord Genuity Group reduced their price target on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Monday, July 21st. Wall Street Zen cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Globus Medical Stock Up 1.4%

GMED opened at $56.49 on Tuesday. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.52 and a beta of 1.16. The business has a 50 day moving average of $57.79 and a 200-day moving average of $62.21.

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

Insider Activity

In other news, Director Ann D. Rhoads sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $58.46, for a total value of $584,600.00. Following the completion of the sale, the director directly owned 25,384 shares of the company’s stock, valued at $1,483,948.64. This trade represents a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.54% of the stock is currently owned by insiders.

About Globus Medical

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.