Schiavi & Co LLC Buys Shares of 3,000 Globus Medical, Inc. (NYSE:GMED)

Schiavi & Co LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,000 shares of the medical device company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also modified their holdings of GMED. Nisa Investment Advisors LLC boosted its holdings in shares of Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 160 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Globus Medical by 0.4% in the second quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock valued at $3,145,000 after buying an additional 183 shares during the period. Radnor Capital Management LLC raised its holdings in Globus Medical by 0.7% in the 1st quarter. Radnor Capital Management LLC now owns 29,101 shares of the medical device company’s stock valued at $1,561,000 after buying an additional 215 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Globus Medical by 3.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock worth $378,000 after buying an additional 244 shares during the period. Finally, Covestor Ltd increased its position in Globus Medical by 12.7% in the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock valued at $120,000 after acquiring an additional 252 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Stock Down 0.4 %

Shares of NYSE GMED opened at $69.75 on Friday. The firm has a market cap of $9.44 billion, a PE ratio of 108.99, a P/E/G ratio of 1.91 and a beta of 1.17. The company’s fifty day simple moving average is $70.84 and its 200 day simple moving average is $62.95. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business’s revenue was up 115.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities analysts predict that Globus Medical, Inc. will post 2.84 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Morgan Stanley upped their target price on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, BTIG Research raised their price target on shares of Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the director now owns 16,419 shares in the company, valued at approximately $1,149,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.54% of the company’s stock.

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.