Acorn Financial Advisory Services Inc. ADV Lowers Holdings in Globus Medical, Inc. (NYSE:GMED)

Acorn Financial Advisory Services Inc. ADV trimmed its position in shares of Globus Medical, Inc. (NYSE:GMED) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,763 shares of the medical device company’s stock after selling 430 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Globus Medical were worth $1,128,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Globus Medical during the third quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Globus Medical in the second quarter worth $33,000. Farther Finance Advisors LLC boosted its stake in shares of Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 385 shares during the last quarter. GAMMA Investing LLC increased its position in Globus Medical by 254.5% during the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after purchasing an additional 453 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Globus Medical in the 2nd quarter valued at about $52,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GMED. Morgan Stanley raised their target price on shares of Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. BTIG Research boosted their target price on shares of Globus Medical from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday. Truist Financial upped their price objective on Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.09.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 15,000 shares of Globus Medical stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Globus Medical news, Director Ann D. Rhoads sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 42,884 shares of the company’s stock, valued at approximately $3,017,318.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kelly Huller sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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. Insiders sold a total of 110,000 shares of company stock worth $8,512,850 over the last ninety days. Company insiders own 18.54% of the company’s stock.

Globus Medical Price Performance

Globus Medical stock traded down $1.09 during midday trading on Friday, hitting $80.88. 1,804,199 shares of the stock were exchanged, compared to its average volume of 934,414. The company has a 50 day moving average price of $72.28 and a two-hundred day moving average price of $68.46. The firm has a market cap of $10.95 billion, a P/E ratio of 120.72, a P/E/G ratio of 2.19 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $84.87.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to the consensus estimate of $604.69 million. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue was up 63.1% compared to the same quarter last year. As a group, analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current 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.