Sanctuary Advisors LLC Purchases 3,022 Shares of Globus Medical, Inc. (NYSE:GMED)

Sanctuary Advisors LLC raised its holdings in Globus Medical, Inc. (NYSE:GMED) by 33.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,945 shares of the medical device company’s stock after purchasing an additional 3,022 shares during the quarter. Sanctuary Advisors LLC’s holdings in Globus Medical were worth $855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its holdings in Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Globus Medical by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company’s stock worth $172,245,000 after purchasing an additional 35,054 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock valued at $134,893,000 after purchasing an additional 21,935 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of Globus Medical by 1.7% in the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company’s stock valued at $117,699,000 after purchasing an additional 29,200 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in Globus Medical by 1.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company’s stock worth $114,330,000 after purchasing an additional 18,117 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Up 0.8 %

GMED opened at $82.63 on Monday. The firm’s fifty day simple moving average is $80.02 and its 200 day simple moving average is $73.44. The stock has a market capitalization of $11.25 billion, a P/E ratio of 123.33, a P/E/G ratio of 1.99 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $87.22.

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

Insider Activity

In related news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock worth $7,674,950 over the last ninety days. Insiders own 18.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GMED. Canaccord Genuity Group upped their target price on shares of Globus Medical from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Bank of America lifted their price objective on Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised their target price on Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.55.

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.