Fisher Asset Management LLC Has $26.41 Million Stake in Globus Medical, Inc. (NYSE:GMED)

Fisher Asset Management LLC lowered its stake in Globus Medical, Inc. (NYSE:GMED) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,211 shares of the medical device company’s stock after selling 5,001 shares during the period. Fisher Asset Management LLC owned approximately 0.27% of Globus Medical worth $26,413,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Stephens Inc. AR lifted its holdings in Globus Medical by 3.4% in the 3rd quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock worth $303,000 after purchasing an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Globus Medical by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock worth $403,000 after buying an additional 140 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 period. Van ECK Associates Corp grew its stake in Globus Medical by 0.4% in the 2nd quarter. Van ECK Associates Corp now owns 45,922 shares of the medical device company’s stock valued at $3,145,000 after buying an additional 183 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after acquiring an additional 220 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This trade represents a 25.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $8,512,850 in the last quarter. 18.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GMED has been the topic of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. Piper Sandler lifted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price objective on Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their price target on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Stock Up 0.0 %

Shares of GMED opened at $84.53 on Wednesday. Globus Medical, Inc. has a 12 month low of $44.02 and a 12 month high of $85.33. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 126.16, a P/E/G ratio of 2.02 and a beta of 1.17. The company has a 50-day moving average price of $75.35 and a two-hundred day moving average price of $71.17.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Globus Medical’s quarterly revenue was up 63.1% on a year-over-year basis. Equities research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current fiscal 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.