Wilmington Savings Fund Society FSB Purchases 1,470 Shares of Globus Medical, Inc. (NYSE:GMED)

Wilmington Savings Fund Society FSB raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 11.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,470 shares of the medical device company’s stock after purchasing an additional 1,470 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Globus Medical were worth $1,035,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in shares of Globus Medical by 33.9% during the third quarter. Sanctuary Advisors LLC now owns 11,945 shares of the medical device company’s stock valued at $855,000 after acquiring an additional 3,022 shares during the last quarter. TT International Asset Management LTD bought a new position in Globus Medical during the 3rd quarter valued at approximately $3,169,000. Coldstream Capital Management Inc. lifted its holdings in Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after buying an additional 131 shares during the period. Geode Capital Management LLC grew its position in shares of Globus Medical by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after buying an additional 21,935 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Globus Medical by 3.6% during the third quarter. M&T Bank Corp now owns 6,926 shares of the medical device company’s stock valued at $496,000 after buying an additional 241 shares during the period. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In other news, Director David D. Davidar sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $75.04, for a total transaction of $2,251,200.00. Following the transaction, the director now directly owns 536,275 shares of the company’s stock, valued at $40,242,076. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated 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. Over the last 90 days, insiders have sold 97,500 shares of company stock worth $7,674,950. Corporate insiders own 18.54% of the company’s stock.

Globus Medical Trading Down 0.4 %

Shares of NYSE:GMED opened at $82.42 on Friday. The stock has a fifty day simple moving average of $78.81 and a two-hundred day simple moving average of $72.83. Globus Medical, Inc. has a 12-month low of $49.14 and a 12-month high of $87.22. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 123.01, a PEG ratio of 1.99 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its quarterly 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 return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Globus Medical’s quarterly revenue was up 63.1% compared to the same quarter last year. As a group, equities research analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Bank of America raised their price objective on shares of Globus Medical from $55.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their target price on Globus Medical from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company raised their target price on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average target price of $92.18.

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.