Xponance Inc. Has $909,000 Stock Position in Globus Medical, Inc. (NYSE:GMED)

Xponance Inc. decreased its position in Globus Medical, Inc. (NYSE:GMED) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,062 shares of the medical device company’s stock after selling 579 shares during the period. Xponance Inc.’s holdings in Globus Medical were worth $909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Globus Medical by 49.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock valued at $558,339,000 after buying an additional 3,732,959 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Globus Medical by 16.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,010,932 shares of the medical device company’s stock valued at $53,873,000 after buying an additional 141,492 shares during the period. SG Americas Securities LLC grew its holdings in shares of Globus Medical by 854.5% in the 4th quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock valued at $8,544,000 after buying an additional 143,540 shares during the period. Sector Gamma AS acquired a new position in shares of Globus Medical in the 3rd quarter valued at $11,014,000. Finally, Barclays PLC grew its holdings in shares of Globus Medical by 58.8% in the 3rd quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock valued at $31,315,000 after buying an additional 233,459 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Trading Down 2.1 %

Shares of NYSE:GMED opened at $50.35 on Friday. The company’s 50-day moving average price is $53.06 and its two-hundred day moving average price is $51.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.88 and a quick ratio of 2.72. Globus Medical, Inc. has a one year low of $43.38 and a one year high of $62.88. The stock has a market capitalization of $6.82 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on GMED. Stifel Nicolaus upped their target price on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Truist Financial upped their target price on shares of Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Globus Medical in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.33.

Insider Activity

In other news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the sale, the director now directly 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 can be accessed through the SEC website. 24.30% of the stock is owned by insiders.

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.