Geneva Capital Management LLC Raises Holdings in Globus Medical, Inc. (NYSE:GMED)

Geneva Capital Management LLC boosted its position in Globus Medical, Inc. (NYSE:GMED) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,130 shares of the medical device company’s stock after purchasing an additional 18,117 shares during the period. Globus Medical comprises 1.9% of Geneva Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Geneva Capital Management LLC owned approximately 1.18% of Globus Medical worth $114,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GMED. Lisanti Capital Growth LLC increased its holdings in Globus Medical by 68.4% during the 3rd quarter. Lisanti Capital Growth LLC now owns 24,915 shares of the medical device company’s stock valued at $1,782,000 after acquiring an additional 10,120 shares in the last quarter. River Global Investors LLP increased its holdings in Globus Medical by 0.7% during the 3rd quarter. River Global Investors LLP now owns 47,067 shares of the medical device company’s stock valued at $3,366,000 after acquiring an additional 331 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Globus Medical by 6.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company’s stock valued at $554,000 after acquiring an additional 436 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Globus Medical during the 3rd quarter valued at about $2,144,000. Finally, Van ECK Associates Corp increased its holdings in Globus Medical by 36.1% during the 3rd quarter. Van ECK Associates Corp now owns 62,505 shares of the medical device company’s stock valued at $4,618,000 after acquiring an additional 16,583 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 owns 42,884 shares in the company, valued at $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Huller sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,000 shares of company stock worth $8,512,850. Insiders own 18.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GMED. Morgan Stanley raised their target price on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America lifted their price target on shares of Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and set a $100.00 price target on shares of Globus Medical in a report on Wednesday, November 6th. Stifel Nicolaus lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.18.

Globus Medical Stock Up 0.2 %

Shares of NYSE GMED traded up $0.20 during trading on Tuesday, reaching $82.19. 337,633 shares of the stock were exchanged, compared to its average volume of 1,003,602. The business’s 50-day moving average price is $72.47 and its 200 day moving average price is $68.92. Globus Medical, Inc. has a twelve month low of $43.68 and a twelve month high of $84.87. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 122.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The business’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, sell-side analysts expect that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Globus Medical 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.