Ameritas Investment Partners Inc. Has $3.02 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Ameritas Investment Partners Inc. trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 3.3% in the second quarter, HoldingsChannel.com reports. The firm owned 44,056 shares of the medical device company’s stock after selling 1,516 shares during the period. Ameritas Investment Partners Inc.’s holdings in Globus Medical were worth $3,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Globus Medical during the second quarter worth about $33,000. GAMMA Investing LLC raised its holdings in shares of Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Globus Medical during the 2nd quarter worth approximately $52,000. YHB Investment Advisors Inc. acquired a new stake in Globus Medical in the 1st quarter valued at $50,000. Finally, Nisa Investment Advisors LLC grew its position in Globus Medical by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after acquiring an additional 160 shares during the period. 95.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the firm’s 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 transaction, the director now directly owns 16,419 shares of the company’s stock, valued at $1,149,330. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $70,000.00. Following the completion of the sale, the director now owns 16,419 shares in the company, valued at $1,149,330. The disclosure for this sale can be found here. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Performance

Shares of GMED opened at $70.64 on Friday. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 110.38, a PEG ratio of 1.91 and a beta of 1.17. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $74.21. The business’s fifty day moving average price is $70.88 and its two-hundred day moving average price is $63.54.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GMED shares. Truist Financial lifted their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. BTIG Research boosted 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. Royal Bank of Canada raised their price objective on shares of Globus Medical from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays increased their price target on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lifted their price objective on Globus Medical from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to 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.