Nicolet Advisory Services LLC Purchases 435 Shares of Globus Medical, Inc. (NYSE:GMED)

Nicolet Advisory Services LLC raised its position in Globus Medical, Inc. (NYSE:GMED) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,209 shares of the medical device company’s stock after acquiring an additional 435 shares during the period. Nicolet Advisory Services LLC’s holdings in Globus Medical were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GMED. V Square Quantitative Management LLC bought a new stake in Globus Medical in the 3rd quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Globus Medical in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC lifted its stake in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock worth $43,000 after buying an additional 453 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Globus Medical during the second quarter worth $52,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GMED shares. Royal Bank of Canada boosted their price objective on Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Wednesday, November 6th. Morgan Stanley raised their price objective on shares of Globus Medical from $74.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus upped their target price 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, Wells Fargo & Company raised their price target on shares of Globus Medical from $78.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.18.

Insider Activity

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the 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 transaction, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. This represents a 25.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $8,512,850. 18.54% of the stock is currently owned by insiders.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $84.72 on Friday. The company’s fifty day moving average price is $74.76 and its 200-day moving average price is $70.83. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 126.45, a PEG ratio of 2.03 and a beta of 1.17. Globus Medical, Inc. has a one year low of $44.02 and a one year high of $85.30.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. As a group, equities research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current 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.