Greenwood Capital Associates LLC Sells 286 Shares of Globus Medical, Inc. (NYSE:GMED)

Greenwood Capital Associates LLC trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,947 shares of the medical device company’s stock after selling 286 shares during the period. Greenwood Capital Associates LLC’s holdings in Globus Medical were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical in the third quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Globus Medical in the second quarter worth $33,000. Farther Finance Advisors LLC boosted its holdings in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after acquiring an additional 385 shares during the period. GAMMA Investing LLC raised its position in shares of Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Globus Medical in the second quarter worth $52,000. 95.16% of the stock is owned by institutional investors.

Globus Medical Trading Up 1.2 %

GMED opened at $75.59 on Wednesday. The company has a market cap of $10.24 billion, a P/E ratio of 251.97, a P/E/G ratio of 2.07 and a beta of 1.17. The business’s 50-day moving average price is $71.69 and its 200-day moving average price is $68.06. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $76.13.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) 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 company had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. During the same quarter in the previous year, the business earned $0.63 EPS. Globus Medical’s revenue was up 115.9% compared to the same quarter last year. Equities research analysts forecast that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. BTIG Research raised their price target on Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $78.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.78.

Insider Activity at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now owns 42,884 shares in the company, valued at approximately $3,017,318.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the transaction, the director now owns 536,275 shares in the company, valued at $40,242,076. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.54% of the stock is owned by company 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.