Natixis Advisors L.P. Acquires 47,047 Shares of Globus Medical, Inc. (NYSE:GMED)

Natixis Advisors L.P. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,114 shares of the medical device company’s stock after buying an additional 47,047 shares during the quarter. Natixis Advisors L.P. owned approximately 0.11% of Globus Medical worth $7,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GMED. DekaBank Deutsche Girozentrale purchased a new stake in shares of Globus Medical in the 3rd quarter worth $28,000. Allworth Financial LP grew its holdings in Globus Medical by 25.7% during the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock valued at $66,000 after purchasing an additional 254 shares during the period. Nisa Investment Advisors LLC increased its position in Globus Medical by 122.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after buying an additional 823 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Globus Medical in the third quarter worth about $89,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Globus Medical during the 3rd quarter valued at about $205,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GMED has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday. 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 report on Wednesday, February 21st. Stifel Nicolaus raised their price target on Globus Medical from $64.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research boosted their price objective on Globus Medical from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler increased their target price on Globus Medical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.60.

Insider Buying and Selling

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.99, for a total transaction of $550,574.10. Following the transaction, the director now owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.30% of the stock is owned by corporate insiders.

Globus Medical Stock Performance

Shares of NYSE:GMED opened at $61.61 on Thursday. The firm has a fifty day simple moving average of $52.50 and a two-hundred day simple moving average of $51.26. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $8.34 billion, a P/E ratio of 52.66, a PEG ratio of 1.53 and a beta of 1.11. Globus Medical, Inc. has a 52 week low of $43.38 and a 52 week high of $65.74.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.17. The company had revenue of $606.67 million for the quarter, compared to analysts’ expectations of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm’s revenue for the quarter was up 119.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

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.