Globus Medical, Inc. (NYSE:GMED) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in Globus Medical, Inc. (NYSE:GMED) by 5.4% in the third quarter, HoldingsChannel.com reports. The firm owned 53,840 shares of the medical device company’s stock after selling 3,053 shares during the quarter. Amalgamated Bank’s holdings in Globus Medical were worth $3,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Globus Medical in the second quarter worth about $33,000. Farther Finance Advisors LLC raised its position in Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after acquiring an additional 385 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Globus Medical during the 2nd quarter valued at about $52,000. 95.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Globus Medical news, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through the SEC website. In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on 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 owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were 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. Over the last ninety days, insiders sold 110,000 shares of company stock worth $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

NYSE GMED opened at $80.86 on Friday. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 269.53, a price-to-earnings-growth ratio of 2.06 and a beta of 1.17. The company has a 50 day simple moving average of $72.28 and a 200-day simple moving average of $68.46. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $84.87.

Globus Medical (NYSE:GMED) last released its quarterly earnings data 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. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. On average, analysts predict that Globus Medical, Inc. will post 2.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday. Barclays boosted their target price on Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Truist Financial increased their price target on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Bank of America boosted their price objective on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.09.

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.