Globus Medical, Inc. (NYSE:GMED) Shares Sold by Capital Impact Advisors LLC

Capital Impact Advisors LLC decreased its stake in Globus Medical, Inc. (NYSE:GMED) by 28.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,858 shares of the medical device company’s stock after selling 8,088 shares during the period. Globus Medical accounts for about 3.8% of Capital Impact Advisors LLC’s holdings, making the stock its 2nd biggest holding. Capital Impact Advisors LLC’s holdings in Globus Medical were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vestal Point Capital LP acquired a new stake in Globus Medical during the fourth quarter worth approximately $42,632,000. Leeward Investments LLC MA grew its stake in Globus Medical by 27.6% during the first quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock worth $11,918,000 after purchasing an additional 48,047 shares during the period. Van ECK Associates Corp grew its stake in Globus Medical by 33.0% during the first quarter. Van ECK Associates Corp now owns 45,739 shares of the medical device company’s stock worth $2,453,000 after purchasing an additional 11,359 shares during the period. Swedbank AB grew its stake in Globus Medical by 15.4% during the second quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock worth $25,684,000 after purchasing an additional 50,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Globus Medical by 17.9% during the second 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 purchasing an additional 172,605 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 0.1 %

GMED stock opened at $70.61 on Monday. Globus Medical, Inc. has a twelve month low of $43.38 and a twelve month high of $74.21. The stock’s 50 day moving average is $70.72 and its 200-day moving average is $64.16. The firm has a market capitalization of $9.56 billion, a PE ratio of 110.33, a P/E/G ratio of 1.97 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its 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 company had revenue of $629.69 million for the quarter, compared to analyst estimates of $615.33 million. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 115.9% on a year-over-year basis. On average, equities research analysts anticipate that Globus Medical, Inc. will post 2.84 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ann D. Rhoads sold 15,000 shares of the firm’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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ann D. Rhoads sold 15,000 shares of the 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 completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were 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 of the company’s stock, valued at $1,149,330. The disclosure for this sale can be found here. Corporate insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GMED shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Wednesday, August 7th. Royal Bank of Canada raised their target price on Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating 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 report on Monday, July 15th. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $78.00 in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

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.