3,245 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Berry Wealth Group LP

Berry Wealth Group LP purchased a new stake in Globus Medical, Inc. (NYSE:GMED) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,245 shares of the medical device company’s stock, valued at approximately $232,000.

Other hedge funds also recently added to or reduced their stakes in the company. Select Equity Group L.P. purchased a new position in Globus Medical in the 2nd quarter valued at about $91,711,000. Millennium Management LLC increased its holdings in Globus Medical by 1,171.5% during the 2nd quarter. Millennium Management LLC now owns 1,363,834 shares of the medical device company’s stock worth $93,409,000 after purchasing an additional 1,256,570 shares during the last quarter. Magnetar Financial LLC boosted its stake in shares of Globus Medical by 198.6% during the 1st quarter. Magnetar Financial LLC now owns 1,689,287 shares of the medical device company’s stock valued at $90,613,000 after buying an additional 1,123,540 shares during the last quarter. Motley Fool Asset Management LLC grew its position in shares of Globus Medical by 1,263.7% during the first quarter. Motley Fool Asset Management LLC now owns 848,164 shares of the medical device company’s stock worth $45,496,000 after buying an additional 785,970 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its stake in shares of Globus Medical by 46.1% in the first quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock worth $133,018,000 after buying an additional 782,285 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction dated Friday, September 13th. The stock was 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 approximately $3,017,318.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the 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 owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now owns 536,275 shares in the company, valued at approximately $40,242,076. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GMED. Royal Bank of Canada raised their price objective on shares of Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Truist Financial increased their target price on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Morgan Stanley increased their price target on Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Barclays boosted their price objective on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.78.

Globus Medical Trading Up 1.4 %

GMED stock traded up $1.01 during trading hours on Monday, hitting $73.86. 178,984 shares of the stock traded hands, compared to its average volume of 1,000,806. The stock has a 50-day simple moving average of $70.70 and a 200 day simple moving average of $66.18. The company has a market cap of $10.00 billion, a P/E ratio of 113.83, a P/E/G ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $75.98.

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

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.