River Global Investors LLP Invests $1.45 Million in Globus Medical, Inc. (NYSE:GMED)

River Global Investors LLP bought a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, Holdings Channel reports. The fund bought 27,176 shares of the medical device company’s stock, valued at approximately $1,448,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in Globus Medical in the third quarter worth about $28,000. Allworth Financial LP raised its position in shares of Globus Medical by 25.7% in the 4th quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after acquiring an additional 254 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Globus Medical by 122.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after acquiring an additional 823 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Globus Medical during the third quarter valued at approximately $89,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Globus Medical during the third quarter valued at approximately $205,000. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Globus Medical

In related 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 value of $550,574.10. Following the sale, the director now owns 17,419 shares in the company, valued at $905,613.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.30% of the company’s stock.

Globus Medical Stock Up 2.9 %

GMED stock traded up $1.47 during midday trading on Friday, hitting $51.95. The company’s stock had a trading volume of 1,061,977 shares, compared to its average volume of 830,213. The company has a market cap of $7.03 billion, a PE ratio of 44.40, a P/E/G ratio of 1.53 and a beta of 1.11. The firm’s 50-day moving average is $52.57 and its 200-day moving average is $51.20. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The company has a current ratio of 4.88, a quick ratio of 2.72 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

GMED has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Globus Medical in a research report on Thursday, January 11th. Stifel Nicolaus lifted their price target on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial upped their price objective 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. Finally, BTIG Research upgraded shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical presently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

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.