Swiss National Bank Has $12.33 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Swiss National Bank trimmed its stake in shares of Globus Medical, Inc. (NYSE:GMEDFree Report) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,277 shares of the medical device company’s stock after selling 30,100 shares during the period. Swiss National Bank owned about 0.17% of Globus Medical worth $12,325,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GMED. Commonwealth Equity Services LLC raised its stake in shares of Globus Medical by 75.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,424 shares of the medical device company’s stock valued at $518,000 after purchasing an additional 4,476 shares during the period. New York State Teachers Retirement System raised its position in Globus Medical by 61.2% in the 3rd quarter. New York State Teachers Retirement System now owns 90,974 shares of the medical device company’s stock valued at $4,517,000 after buying an additional 34,522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Globus Medical by 52.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,993 shares of the medical device company’s stock valued at $1,191,000 after acquiring an additional 8,206 shares in the last quarter. Advisor Partners II LLC acquired a new position in Globus Medical during the 3rd quarter worth approximately $441,000. Finally, Park Avenue Securities LLC bought a new position in shares of Globus Medical during the 3rd quarter worth approximately $331,000. 95.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GMED. 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 report on Wednesday, February 21st. Piper Sandler increased their price objective on shares of Globus Medical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Wednesday. Barclays increased their price target on Globus Medical from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BTIG Research boosted their price target on Globus Medical from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Get Our Latest Stock Report on GMED

Insider Activity at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of Globus Medical stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the completion of the sale, the director now owns 17,419 shares of the company’s stock, valued at $905,613.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Leslie V. Norwalk sold 10,590 shares of the firm’s stock in a transaction that occurred 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 directly owns 17,419 shares of the company’s stock, valued at $905,613.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David D. Davidar sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $65.00, for a total value of $1,300,000.00. Following the completion of the sale, the director now owns 566,275 shares of the company’s stock, valued at $36,807,875. The disclosure for this sale can be found here. 24.30% of the stock is currently owned by corporate insiders.

Globus Medical Trading Up 0.6 %

GMED stock opened at $64.72 on Friday. The business’s 50 day simple moving average is $52.91 and its 200 day simple moving average is $51.45. Globus Medical, Inc. has a 1-year low of $43.38 and a 1-year high of $65.74. The firm has a market capitalization of $8.76 billion, a PE ratio of 101.13, a PEG ratio of 1.80 and a beta of 1.11.

Globus Medical (NYSE:GMEDGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The medical device company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.55 by $0.17. The firm had revenue of $606.67 million for the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company’s quarterly revenue was up 119.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, sell-side analysts predict that Globus Medical, Inc. will post 2.81 EPS for the current fiscal year.

Globus Medical Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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