International Assets Investment Management LLC Takes Position in Globus Medical, Inc. (NYSE:GMED)

International Assets Investment Management LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 39,754 shares of the medical device company’s stock, valued at approximately $2,118,000.

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in Globus Medical by 0.8% in the 3rd quarter. Captrust Financial Advisors now owns 28,776 shares of the medical device company’s stock valued at $1,714,000 after acquiring an additional 227 shares during the period. Gamco Investors INC. ET AL raised its holdings in Globus Medical by 5.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 4,622 shares of the medical device company’s stock valued at $341,000 after acquiring an additional 259 shares during the period. Advisory Services Network LLC raised its holdings in Globus Medical by 109.6% in the 1st quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after acquiring an additional 263 shares during the period. IHT Wealth Management LLC raised its holdings in Globus Medical by 3.4% in the 2nd quarter. IHT Wealth Management LLC now owns 9,291 shares of the medical device company’s stock valued at $553,000 after acquiring an additional 309 shares during the period. Finally, Covestor Ltd raised its holdings in Globus Medical by 86.5% in the 1st quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after acquiring an additional 364 shares during the period. 95.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GMED has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Truist Financial increased their target price on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. BTIG Research upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, March 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

Globus Medical Stock Performance

NYSE GMED opened at $50.37 on Friday. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 1.51 and a beta of 1.08. The firm’s 50 day simple moving average is $53.19 and its 200 day simple moving average is $51.37. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $62.88.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $616.53 million for the quarter, compared to analyst estimates of $608.21 million. Globus Medical had a net margin of 7.83% and a return on equity of 8.82%. The firm’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, research analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now owns 17,419 shares of the company’s stock, valued at approximately $905,613.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.30% of the stock is owned by insiders.

Globus Medical Company 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.