UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Globus Medical, Inc. (NYSE:GMED)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,170 shares of the medical device company’s stock after acquiring an additional 3,584 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Globus Medical were worth $20,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GMED. Stephens Inc. AR lifted its stake in shares of Globus Medical by 3.4% during the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after acquiring an additional 140 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Globus Medical by 15.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock valued at $80,000 after purchasing an additional 160 shares during the period. Van ECK Associates Corp lifted its position in shares of Globus Medical by 0.4% during the second quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock worth $3,145,000 after purchasing an additional 183 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Globus Medical by 6.2% during the third quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after purchasing an additional 220 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Price Performance

Shares of GMED opened at $83.09 on Friday. The stock has a market capitalization of $11.31 billion, a PE ratio of 124.01, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19. The business’s fifty day moving average price is $77.33 and its 200 day moving average price is $72.08. Globus Medical, Inc. has a 12-month low of $44.02 and a 12-month high of $87.22.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period last year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. As a group, research analysts anticipate that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on GMED. Barclays lifted their price target on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Stifel Nicolaus increased their price target on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $83.00 to $100.00 in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.73.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. This trade represents a 25.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The disclosure for this sale can be found here. Insiders sold a total of 112,500 shares of company stock worth $8,730,350 over the last ninety days. Company insiders own 18.54% of the company’s stock.

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.