Aviva PLC trimmed its stake in shares of Globus Medical, Inc. (NYSE:GMED – Get Rating) by 20.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,225 shares of the medical device company’s stock after selling 6,666 shares during the period. Aviva PLC’s holdings in Globus Medical were worth $1,562,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bridgewater Associates LP grew its holdings in Globus Medical by 10.3% in the second quarter. Bridgewater Associates LP now owns 125,220 shares of the medical device company’s stock valued at $7,030,000 after purchasing an additional 11,734 shares during the period. Inspire Investing LLC grew its holdings in Globus Medical by 17.9% in the second quarter. Inspire Investing LLC now owns 3,763 shares of the medical device company’s stock valued at $211,000 after purchasing an additional 571 shares during the period. Azimuth Capital Investment Management LLC acquired a new stake in Globus Medical in the second quarter valued at approximately $214,000. Illinois Municipal Retirement Fund grew its holdings in Globus Medical by 67.9% in the second quarter. Illinois Municipal Retirement Fund now owns 30,077 shares of the medical device company’s stock valued at $1,689,000 after purchasing an additional 12,168 shares during the period. Finally, Nuance Investments LLC acquired a new stake in Globus Medical in the second quarter valued at approximately $209,000. 74.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Globus Medical
In other Globus Medical news, CFO Keith W. Pfeil sold 29,167 shares of Globus Medical stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $77.57, for a total value of $2,262,484.19. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Kelly Huller sold 7,500 shares of Globus Medical stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $75.00, for a total value of $562,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith W. Pfeil sold 29,167 shares of Globus Medical stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $77.57, for a total value of $2,262,484.19. The disclosure for this sale can be found here. Company insiders own 24.41% of the company’s stock.
Globus Medical Stock Performance
Globus Medical (NYSE:GMED – Get Rating) last posted its earnings results on Tuesday, February 21st. The medical device company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Globus Medical had a return on equity of 11.93% and a net margin of 18.59%. The company had revenue of $274.50 million for the quarter, compared to the consensus estimate of $276.40 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts predict that Globus Medical, Inc. will post 2.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Truist Financial downgraded Globus Medical from a “buy” rating to a “hold” rating and decreased their target price for the company from $85.00 to $70.00 in a research report on Friday, February 10th. Needham & Company LLC downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, February 10th. Piper Sandler downgraded Globus Medical from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 9th. Loop Capital downgraded Globus Medical from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $70.00 in a research report on Friday, February 10th. Finally, StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $70.91.
Globus Medical Profile
Globus Medical, Inc operates as a medical device company that develops and commercializes healthcare solutions. The firm engages in developing products that promote healing in patients with musculoskeletal disorders. It classifies products into Innovative Fusion and Disruptive Technology. It operates through the United States and International geographical segments.
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