3,596 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. bought a new position in Globus Medical, Inc. (NYSE:GMED) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,596 shares of the medical device company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestal Point Capital LP acquired a new position in Globus Medical in the 4th quarter worth $42,632,000. Leeward Investments LLC MA boosted its stake in shares of Globus Medical by 27.6% during the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock worth $11,918,000 after buying an additional 48,047 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Globus Medical by 33.0% during the 1st quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock worth $2,453,000 after buying an additional 11,359 shares during the last quarter. Swedbank AB boosted its stake in shares of Globus Medical by 15.4% during the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock worth $25,684,000 after buying an additional 50,000 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of 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 buying an additional 172,605 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Truist Financial increased 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. BTIG Research increased their price objective on shares of Globus Medical from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Barclays increased their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley upped their target price on shares of Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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 Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction 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 sale, the director now directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the director now directly owns 16,419 shares in the company, valued at $1,149,330. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Up 0.1 %

Shares of GMED stock opened at $70.61 on Friday. The firm has a 50 day moving average price of $70.72 and a two-hundred day moving average price of $64.03. The company has a market capitalization of $9.56 billion, a PE ratio of 110.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 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 firm had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 115.9% on a year-over-year basis. As a group, research analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current 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.