Globus Medical, Inc. (NYSE:GMED) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 729,924 shares of the medical device company’s stock after selling 18,205 shares during the period. Boston Trust Walden Corp owned 0.54% of Globus Medical worth $52,219,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in Globus Medical during the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical during the second quarter worth $33,000. GAMMA Investing LLC grew its position in Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after buying an additional 453 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Globus Medical in the 2nd quarter valued at $52,000. Finally, Nisa Investment Advisors LLC raised its position in Globus Medical by 15.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the medical device company’s stock worth $80,000 after buying an additional 160 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of analyst reports. BTIG Research increased their target price on Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $78.00 in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of Globus Medical from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday, August 7th. Finally, Truist Financial boosted their price objective on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.78.

Insider Transactions at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of the stock in a transaction on Friday, September 13th. The shares were 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 of the company’s stock, valued at $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Globus Medical news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total value of $2,251,200.00. Following the completion of the transaction, the director now owns 536,275 shares in the company, valued at $40,242,076. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now owns 42,884 shares in the company, valued at $3,017,318.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

GMED stock traded down $0.47 during midday trading on Friday, hitting $73.17. The stock had a trading volume of 420,464 shares, compared to its average volume of 687,592. The company’s 50-day moving average price is $71.13 and its 200 day moving average price is $66.73. The firm has a market cap of $9.91 billion, a PE ratio of 243.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17. Globus Medical, Inc. has a 12-month low of $43.38 and a 12-month high of $75.98.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million during the quarter, compared to the consensus estimate of $615.33 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 115.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Globus Medical, Inc. will post 2.84 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.