Xponance Inc. Has $827,000 Position in Globus Medical, Inc. (NYSE:GMED)

Xponance Inc. decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 29.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,071 shares of the medical device company’s stock after selling 5,029 shares during the period. Xponance Inc.’s holdings in Globus Medical were worth $827,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical in the 2nd quarter worth about $33,000. GAMMA Investing LLC raised its stake in shares of Globus Medical by 254.5% in the second 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. YHB Investment Advisors Inc. purchased a new stake in shares of Globus Medical in the first quarter worth approximately $50,000. International Assets Investment Management LLC purchased a new position in shares of Globus Medical during the second quarter valued at approximately $52,000. Finally, Mather Group LLC. purchased a new position in shares of Globus Medical during the first quarter valued at approximately $69,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GMED has been the topic of several recent analyst reports. BTIG Research raised their price objective on Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research report on Wednesday, August 7th. Wells Fargo & Company raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $78.00 in a research report on Wednesday, August 7th. Barclays lifted their target price on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Truist Financial upped their target price on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Globus Medical news, Director Leslie V. Norwalk sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the transaction, the director now owns 16,419 shares in the company, valued at approximately $1,149,330. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Up 0.1 %

NYSE:GMED opened at $70.61 on Friday. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $74.21. The firm’s 50 day moving average is $70.72 and its 200 day moving average is $64.03. The stock has a market capitalization of $9.56 billion, a PE ratio of 110.33, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17.

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

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.