37,860 Shares in Globus Medical, Inc. (NYSE:GMED) Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,860 shares of the medical device company’s stock, valued at approximately $2,709,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB raised its stake in shares of Globus Medical by 15.4% in the second quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after acquiring an additional 50,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Globus Medical by 17.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock worth $77,852,000 after purchasing an additional 172,605 shares during the period. Sanctuary Advisors LLC acquired a new stake in Globus Medical in the 2nd quarter valued at about $611,000. Quest Partners LLC purchased a new position in shares of Globus Medical in the 3rd quarter valued at about $523,000. Finally, AXA S.A. boosted its stake in shares of Globus Medical by 0.5% in the 2nd quarter. AXA S.A. now owns 1,478,242 shares of the medical device company’s stock valued at $101,245,000 after buying an additional 7,443 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Performance

NYSE GMED opened at $85.29 on Thursday. Globus Medical, Inc. has a one year low of $44.02 and a one year high of $85.74. The firm has a market cap of $11.61 billion, a PE ratio of 127.30, a P/E/G ratio of 2.02 and a beta of 1.17. The firm’s fifty day moving average is $75.67 and its two-hundred day moving average is $71.27.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. Research analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $8,512,850 over the last 90 days. 18.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Bank of America lifted their price target on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, November 6th. Morgan Stanley upped their price target on Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Finally, BTIG Research boosted their price target on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

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.