Encompass More Asset Management Makes New $545,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Encompass More Asset Management purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,593 shares of the medical device company’s stock, valued at approximately $545,000.

A number of other large investors have also made changes to their positions in GMED. V Square Quantitative Management LLC purchased a new stake in Globus Medical during the third quarter worth about $27,000. Quarry LP lifted its holdings in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares in the last quarter. Farther Finance Advisors LLC raised its position 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 worth $39,000 after purchasing an additional 385 shares during the last quarter. UMB Bank n.a. lifted its stake in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Globus Medical by 40.7% during 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 last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GMED shares. Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research report on Thursday, January 9th. Truist Financial lifted their price target on Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Piper Sandler increased their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 81,667 shares of company stock worth $6,674,554. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

NYSE:GMED opened at $91.92 on Friday. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 137.34, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $93.67. The business’s 50-day simple moving average is $84.64 and its 200 day simple moving average is $76.45.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million during the quarter, compared to analysts’ expectations of $604.69 million. During the same period in the prior year, the business posted $0.57 EPS. The business’s revenue was up 63.1% on a year-over-year basis. On average, equities research analysts predict that Globus Medical, Inc. will post 2.98 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.