Atom Investors LP Has $3.12 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Atom Investors LP boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 126.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 43,557 shares of the medical device company’s stock after acquiring an additional 24,288 shares during the period. Atom Investors LP’s holdings in Globus Medical were worth $3,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical in the third quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical during the 2nd quarter valued at $33,000. Farther Finance Advisors LLC grew its holdings in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Globus Medical in the second quarter valued at about $52,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 5,000 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,055,400.00. Following the completion of the sale, the director now owns 42,884 shares of the company’s stock, 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. Insiders sold 110,000 shares of company stock valued at $8,512,850 over the last 90 days. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Globus Medical stock opened at $85.61 on Monday. The business has a 50 day moving average of $76.26 and a 200-day moving average of $71.63. Globus Medical, Inc. has a 1 year low of $44.02 and a 1 year high of $86.00. The company has a market capitalization of $11.66 billion, a P/E ratio of 127.78, a P/E/G ratio of 2.04 and a beta of 1.17.

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, beating 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 business had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same period in the prior year, the business posted $0.57 earnings per share. Globus Medical’s quarterly revenue was up 63.1% on a year-over-year basis. Equities analysts anticipate that Globus Medical, Inc. will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on GMED. Wells Fargo & Company raised their target price on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Barclays lifted their price target on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Bank of America lifted their target price on Globus Medical from $55.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.18.

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.