Natixis Advisors LLC Purchases 28,638 Shares of Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors LLC grew its position in shares of Globus Medical, Inc. (NYSE:GMED) by 12.4% in the 2nd quarter, Holdings Channel reports. The firm owned 259,512 shares of the medical device company’s stock after acquiring an additional 28,638 shares during the quarter. Natixis Advisors LLC’s holdings in Globus Medical were worth $17,774,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vestal Point Capital LP bought a new position in Globus Medical during the 4th quarter worth approximately $42,632,000. Millrace Asset Group Inc. bought a new stake in shares of Globus Medical in the 4th quarter valued at $2,103,000. Van ECK Associates Corp increased its stake in shares of Globus Medical by 82.6% in the 4th quarter. Van ECK Associates Corp now owns 34,380 shares of the medical device company’s stock valued at $1,832,000 after acquiring an additional 15,552 shares in the last quarter. Leeward Investments LLC MA increased its stake in shares of Globus Medical by 27.6% in the 1st quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after acquiring an additional 48,047 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Globus Medical by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,812 shares of the medical device company’s stock valued at $53,706,000 after acquiring an additional 60,060 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of Globus Medical stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the transaction, the director now directly owns 16,419 shares of the company’s stock, valued at approximately $1,149,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 0.8 %

NYSE GMED opened at $72.13 on Wednesday. The company has a market cap of $9.76 billion, a P/E ratio of 112.70, a PEG ratio of 2.01 and a beta of 1.15. The company has a fifty day simple moving average of $70.59 and a 200 day simple moving average of $62.22. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $74.21.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The business’s revenue for the quarter was up 115.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. Sell-side analysts predict that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

GMED has been the subject of several research analyst reports. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Monday, May 20th. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $78.00 in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their price objective on shares of Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Truist Financial lifted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, BTIG Research lifted their price target on shares of Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

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.