Intech Investment Management LLC Acquires 15,283 Shares of Globus Medical, Inc. (NYSE:GMED)

Intech Investment Management LLC grew its holdings in Globus Medical, Inc. (NYSE:GMED) by 291.3% in the third quarter, Holdings Channel reports. The firm owned 20,530 shares of the medical device company’s stock after buying an additional 15,283 shares during the quarter. Intech Investment Management LLC’s holdings in Globus Medical were worth $1,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Segall Bryant & Hamill LLC increased its holdings in shares of Globus Medical by 7.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company’s stock worth $27,739,000 after purchasing an additional 26,047 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of Globus Medical by 2.6% in the third quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock worth $2,934,000 after acquiring an additional 1,055 shares during the period. Quest Partners LLC bought a new stake in shares of Globus Medical in the third quarter worth $523,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Globus Medical by 0.8% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,024 shares of the medical device company’s stock worth $2,792,000 after acquiring an additional 321 shares during the period. Finally, KBC Group NV grew its holdings in shares of Globus Medical by 0.5% in the third quarter. KBC Group NV now owns 45,505 shares of the medical device company’s stock worth $3,255,000 after acquiring an additional 237 shares during the period. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 0.3 %

Shares of Globus Medical stock opened at $84.49 on Tuesday. The stock’s 50-day simple moving average is $75.05 and its 200-day simple moving average is $71.04. Globus Medical, Inc. has a 52 week low of $44.02 and a 52 week high of $85.33. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 126.10, a PEG ratio of 2.02 and a beta of 1.17.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating 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 business had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period in the previous year, the business earned $0.57 earnings per share. The business’s revenue was up 63.1% on a year-over-year basis. On average, equities analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

GMED has been the subject of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.18.

Insider Activity

In related news, CEO Daniel T. Scavilla sold 60,000 shares of the business’s 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 through this link. Also, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock worth $8,512,850 over the last ninety days. Corporate insiders own 18.54% of the company’s stock.

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.