Jump Financial LLC Raises Stake in Globus Medical, Inc. (NYSE:GMED)

Jump Financial LLC boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMEDFree Report) by 112.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,127 shares of the medical device company’s stock after buying an additional 36,085 shares during the quarter. Jump Financial LLC’s holdings in Globus Medical were worth $3,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GMED. Altshuler Shaham Ltd purchased a new stake in shares of Globus Medical in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in Globus Medical in the 2nd quarter worth approximately $27,000. Quarry LP acquired a new stake in shares of Globus Medical during the 1st quarter worth approximately $27,000. Advisory Services Network LLC increased its holdings in shares of Globus Medical by 109.6% during the 1st quarter. Advisory Services Network LLC now owns 503 shares of the medical device company’s stock valued at $28,000 after purchasing an additional 263 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Globus Medical by 86.5% in the 1st quarter. Covestor Ltd now owns 785 shares of the medical device company’s stock valued at $58,000 after purchasing an additional 364 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GMED shares. Barclays lifted their price objective on shares of Globus Medical from $77.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Truist Financial upped their price target on Globus Medical from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Roth Mkm assumed coverage on Globus Medical in a report on Friday, October 20th. They issued a “buy” rating and a $75.00 price objective on the stock. Morgan Stanley cut their price objective on Globus Medical from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Globus Medical in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.50.

View Our Latest Report on Globus Medical

Globus Medical Trading Down 1.1 %

Shares of GMED opened at $53.92 on Wednesday. The firm’s fifty day moving average is $51.32 and its two-hundred day moving average is $52.18. The stock has a market cap of $7.43 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The company has a quick ratio of 2.36, a current ratio of 4.47 and a debt-to-equity ratio of 0.10. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $80.04.

Globus Medical (NYSE:GMEDGet Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The medical device company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $383.60 million for the quarter, compared to analyst estimates of $306.78 million. Globus Medical had a net margin of 12.88% and a return on equity of 9.79%. Globus Medical’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Research analysts forecast that Globus Medical, Inc. will post 2.31 earnings per share for the current fiscal year.

Globus Medical Profile

(Free Report)

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. It 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 pain management solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.

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Institutional Ownership by Quarter for Globus Medical (NYSE:GMED)

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