Radnor Capital Management LLC Has $2.40 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

Radnor Capital Management LLC trimmed its holdings in Globus Medical, Inc. (NYSE:GMED) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,061 shares of the medical device company’s stock after selling 910 shares during the period. Radnor Capital Management LLC’s holdings in Globus Medical were worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Globus Medical in the 3rd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in Globus Medical in the second quarter valued at about $33,000. Quarry LP lifted its position in Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC grew its stake in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Globus Medical by 40.7% in the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock valued at $64,000 after buying an additional 257 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Shares of NYSE GMED opened at $88.00 on Wednesday. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $90.48. The firm has a market cap of $11.98 billion, a PE ratio of 131.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. The company has a 50 day simple moving average of $83.55 and a 200 day simple moving average of $75.53.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $625.71 million during the quarter, compared to the consensus estimate of $604.69 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. As a group, research analysts anticipate that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GMED. Roth Mkm increased their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Canaccord Genuity Group boosted their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Insiders Place Their Bets

In other news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,667 shares of company stock valued at $6,674,554. 18.54% of the stock is currently owned by company insiders.

About Globus Medical

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.