Leeward Investments LLC MA Raises Position in Globus Medical, Inc. (NYSE:GMED)

Leeward Investments LLC MA increased its holdings in Globus Medical, Inc. (NYSE:GMED) by 27.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 222,188 shares of the medical device company’s stock after buying an additional 48,047 shares during the period. Leeward Investments LLC MA’s holdings in Globus Medical were worth $11,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Globus Medical by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,277,722 shares of the medical device company’s stock worth $600,990,000 after buying an additional 32,220 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Globus Medical by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 2,912,454 shares of the medical device company’s stock worth $155,205,000 after buying an additional 252,510 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Globus Medical by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 2,131,868 shares of the medical device company’s stock worth $105,847,000 after buying an additional 231,773 shares in the last quarter. Norges Bank purchased a new stake in shares of Globus Medical in the fourth quarter worth $95,537,000. Finally, GW&K Investment Management LLC raised its position in shares of Globus Medical by 5.8% in the fourth quarter. GW&K Investment Management LLC now owns 1,759,983 shares of the medical device company’s stock worth $93,789,000 after buying an additional 96,713 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Dan Lemaitre sold 63,300 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $64.61, for a total value of $4,089,813.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director David D. Davidar sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total value of $1,300,000.00. Following the completion of the transaction, the director now directly owns 566,275 shares in the company, valued at approximately $36,807,875. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dan Lemaitre sold 63,300 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The disclosure for this sale can be found here. 18.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler upgraded Globus Medical from a “neutral” rating to an “overweight” rating and raised their price target for the company from $60.00 to $80.00 in a research report on Monday, May 20th. BTIG Research raised their price target on Globus Medical from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Stifel Nicolaus raised their price target on Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Barclays raised their price target on Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.40.

Globus Medical Trading Down 0.1 %

Shares of NYSE:GMED traded down $0.09 on Friday, reaching $68.53. 13,399 shares of the company traded hands, compared to its average volume of 1,108,939. The stock has a market capitalization of $9.28 billion, a P/E ratio of 107.22, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $69.77. The business’s 50-day simple moving average is $63.34 and its 200 day simple moving average is $56.84.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, May 7th. The medical device company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.17. The company had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. Globus Medical’s quarterly revenue was up 119.3% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Sell-side analysts expect that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

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.