Crossmark Global Holdings Inc. Grows Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Crossmark Global Holdings Inc. lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,750 shares of the medical device company’s stock after purchasing an additional 436 shares during the period. Crossmark Global Holdings Inc.’s holdings in Globus Medical were worth $554,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Globus Medical during the 3rd quarter worth $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Globus Medical during the 2nd quarter worth $33,000. Farther Finance Advisors LLC lifted its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Globus Medical during the 2nd quarter worth $52,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

NYSE GMED opened at $81.10 on Friday. The firm has a market cap of $10.98 billion, a PE ratio of 121.04, a P/E/G ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a one year low of $44.02 and a one year high of $84.87. The firm’s fifty day moving average is $73.36 and its two-hundred day moving average is $69.54.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same period in the previous year, the business posted $0.57 earnings per share. The business’s revenue was up 63.1% compared to the same quarter last year. Research analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the transaction, the director now directly owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $8,512,850 over the last ninety days. 18.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GMED shares. Morgan Stanley boosted their price target on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Roth Mkm reissued a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. Finally, Barclays boosted their price target on shares of Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.18.

Globus Medical 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.