Globus Medical, Inc. (NYSE:GMED) Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Globus Medical, Inc. (NYSE:GMED) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,238,603 shares of the medical device company’s stock after buying an additional 285,172 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.91% of Globus Medical worth $88,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical in the 3rd quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new position in Globus Medical in the second quarter worth about $33,000. Farther Finance Advisors LLC boosted its stake 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 valued at $39,000 after acquiring an additional 385 shares during the period. GAMMA Investing LLC grew its holdings in shares of Globus Medical by 254.5% during the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Globus Medical during the 2nd quarter worth approximately $52,000. 95.16% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Kelly Huller sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total transaction of $405,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical 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 completion of the transaction, the director now owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,000 shares of company stock worth $8,512,850. Corporate insiders own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Bank of America boosted their price target on shares of Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BTIG Research boosted their target price on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $85.29 on Thursday. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 127.30, a PEG ratio of 2.02 and a beta of 1.17. Globus Medical, Inc. has a 12 month low of $44.02 and a 12 month high of $85.74. The stock’s 50 day moving average price is $75.67 and its 200 day moving average price is $71.27.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $604.69 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was up 63.1% compared to the same quarter last year. On average, sell-side analysts expect that Globus Medical, Inc. will post 2.98 EPS 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.