Globus Medical, Inc. (NYSE:GMED) Shares Sold by Natixis

Natixis lowered its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 32.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,996 shares of the medical device company’s stock after selling 16,704 shares during the period. Natixis’ holdings in Globus Medical were worth $1,877,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Burgundy Asset Management Ltd. boosted its stake in shares of Globus Medical by 46.1% during the first quarter. Burgundy Asset Management Ltd. now owns 2,479,837 shares of the medical device company’s stock valued at $133,018,000 after acquiring an additional 782,285 shares during the last quarter. Bessemer Group Inc. boosted its stake in Globus Medical by 26.4% in the 1st quarter. Bessemer Group Inc. now owns 34,951 shares of the medical device company’s stock worth $1,875,000 after buying an additional 7,294 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Globus Medical by 25.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,504,383 shares of the medical device company’s stock worth $134,335,000 after buying an additional 503,745 shares during the last quarter. Covestor Ltd boosted its stake in Globus Medical by 12.7% in the 1st quarter. Covestor Ltd now owns 2,243 shares of the medical device company’s stock worth $120,000 after buying an additional 252 shares during the last quarter. Finally, Nicolet Advisory Services LLC acquired a new stake in Globus Medical in the 1st quarter worth about $309,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, Director Dan Lemaitre sold 63,300 shares of Globus Medical stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Globus Medical news, Director Dan Lemaitre sold 63,300 shares of Globus Medical stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $64.61, for a total transaction of $4,089,813.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David D. Davidar sold 20,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $65.00, for a total value of $1,300,000.00. Following the sale, the director now owns 566,275 shares in the company, valued at $36,807,875. The disclosure for this sale can be found here. Insiders have sold 84,300 shares of company stock worth $5,459,813 in the last three months. 18.54% of the stock is owned by insiders.

Globus Medical Stock Performance

Shares of NYSE:GMED traded down $0.93 during mid-day trading on Thursday, hitting $71.73. 988,920 shares of the company traded hands, compared to its average volume of 1,083,565. The firm has a market cap of $9.71 billion, a P/E ratio of 114.10, a PEG ratio of 2.04 and a beta of 1.15. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $74.16. The firm’s 50 day simple moving average is $67.91 and its 200 day simple moving average is $58.74.

Globus Medical (NYSE:GMED) last announced its earnings results 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 business had revenue of $606.67 million for the quarter, compared to the consensus estimate of $586.82 million. Globus Medical had a return on equity of 8.82% and a net margin of 3.51%. The company’s revenue was up 119.3% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities research analysts expect that Globus Medical, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Ratings Changes

GMED has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Wednesday, May 8th. BTIG Research raised their price target on Globus Medical from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Stifel Nicolaus raised their price target on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler raised Globus Medical from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Monday, May 20th. Finally, Truist Financial lifted their price objective on Globus Medical from $63.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $73.30.

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.