Truist Financial Corp Acquires 563 Shares of Globus Medical, Inc. (NYSE:GMED)

Truist Financial Corp lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,625 shares of the medical device company’s stock after acquiring an additional 563 shares during the period. Truist Financial Corp owned approximately 0.05% of Globus Medical worth $5,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GMED. Quarry LP increased its position in shares of 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 acquiring an additional 433 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 worth $39,000 after acquiring an additional 385 shares in the last quarter. UMB Bank n.a. increased its position in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after acquiring an additional 206 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock worth $104,000 after acquiring an additional 370 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 4.4 %

Globus Medical stock opened at $80.43 on Friday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 107.24, a P/E/G ratio of 1.61 and a beta of 1.19. The firm has a 50 day simple moving average of $86.72 and a 200 day simple moving average of $79.03.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. On average, equities research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Analysts Set New Price Targets

GMED has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. BTIG Research upped their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Canaccord Genuity Group upped their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Royal Bank of Canada upped their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus upped their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus price target of $96.91.

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.