2,867 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Raymond James Trust N.A.

Raymond James Trust N.A. acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the third quarter, HoldingsChannel reports. The fund acquired 2,867 shares of the medical device company’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in GMED. Comerica Bank grew its holdings in shares of Globus Medical by 0.5% during the 1st quarter. Comerica Bank now owns 54,814 shares of the medical device company’s stock worth $2,940,000 after acquiring an additional 293 shares during the period. Swedbank AB bought a new position in Globus Medical in the first quarter worth $17,433,000. Cetera Advisors LLC purchased a new position in Globus Medical during the first quarter valued at $204,000. GAMMA Investing LLC boosted its holdings 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 valued at $43,000 after buying an additional 453 shares in the last quarter. Finally, Juncture Wealth Strategies LLC grew its position in shares of Globus Medical by 54.0% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 10,406 shares of the medical device company’s stock worth $713,000 after buying an additional 3,648 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GMED shares. Royal Bank of Canada boosted their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Roth Mkm restated a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research note on Wednesday, November 6th. Morgan Stanley lifted their price objective on Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BTIG Research increased their target price on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler lifted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.18.

Insider Buying and Selling at Globus Medical

In related news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David D. Davidar sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 of the company’s stock, valued at approximately $40,242,076. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $8,512,850 in the last three months. 18.54% of the stock is currently owned by company insiders.

Globus Medical Stock Up 0.9 %

GMED opened at $85.29 on Friday. The stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of 127.30, a PEG ratio of 2.02 and a beta of 1.17. The firm has a 50 day moving average price of $75.96 and a 200-day moving average price of $71.37. Globus Medical, Inc. has a twelve month low of $44.02 and a twelve month high of $85.74.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 63.1% compared to the same quarter last year. As a group, analysts expect that Globus Medical, Inc. will post 2.98 earnings per share 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.