Leeward Investments LLC MA Buys 22,022 Shares of Globus Medical, Inc. (NYSE:GMED)

Leeward Investments LLC MA raised its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 14.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,141 shares of the medical device company’s stock after acquiring an additional 22,022 shares during the period. Leeward Investments LLC MA owned about 0.13% of Globus Medical worth $9,280,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Globus Medical by 49.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock valued at $558,339,000 after acquiring an additional 3,732,959 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Globus Medical by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,010,932 shares of the medical device company’s stock valued at $53,873,000 after acquiring an additional 141,492 shares in the last quarter. SG Americas Securities LLC lifted its stake in Globus Medical by 854.5% during the 4th quarter. SG Americas Securities LLC now owns 160,338 shares of the medical device company’s stock valued at $8,544,000 after acquiring an additional 143,540 shares in the last quarter. Sector Gamma AS bought a new position in Globus Medical during the 3rd quarter valued at $11,014,000. Finally, Barclays PLC lifted its stake in Globus Medical by 58.8% during the 3rd quarter. Barclays PLC now owns 630,662 shares of the medical device company’s stock valued at $31,315,000 after acquiring an additional 233,459 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at Globus Medical

In other news, Director Leslie V. Norwalk sold 10,590 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $51.99, for a total transaction of $550,574.10. Following the sale, the director now directly owns 17,419 shares in the company, valued at $905,613.81. The sale was disclosed in a document filed with the SEC, which is available at this link. 24.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GMED has been the topic of several recent analyst reports. Truist Financial raised their price objective on Globus Medical from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Stifel Nicolaus boosted their price target on shares of Globus Medical from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price target on shares of Globus Medical in a report on Thursday, January 11th. Finally, BTIG Research raised shares of Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.33.

Globus Medical Stock Performance

Globus Medical stock traded up $0.18 during midday trading on Friday, reaching $50.55. The stock had a trading volume of 545,156 shares, compared to its average volume of 1,116,806. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88. The firm’s 50-day moving average price is $53.00 and its 200 day moving average price is $51.33. The firm has a market capitalization of $6.84 billion, a PE ratio of 43.21, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.72, a current ratio of 4.88 and a debt-to-equity ratio of 0.10.

Globus Medical (NYSE:GMED) last announced its quarterly earnings data 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 business had revenue of $616.53 million for the quarter, compared to analysts’ expectations of $608.21 million. During the same period in the previous year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 124.6% compared to the same quarter last year. As a group, research analysts predict that Globus Medical, Inc. will post 2.69 earnings per share for the current fiscal year.

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.