Terril Brothers Inc. Reduces Stock Position in Globus Medical, Inc. (NYSE:GMED)

Terril Brothers Inc. lessened its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,075 shares of the medical device company’s stock after selling 950 shares during the quarter. Globus Medical comprises about 1.9% of Terril Brothers Inc.’s investment portfolio, making the stock its 14th biggest holding. Terril Brothers Inc.’s holdings in Globus Medical were worth $5,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Globus Medical by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,094 shares of the medical device company’s stock worth $378,000 after buying an additional 244 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Globus Medical by 17.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,009 shares of the medical device company’s stock worth $624,000 after buying an additional 1,825 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Globus Medical by 109.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,793 shares of the medical device company’s stock worth $788,000 after buying an additional 7,737 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Globus Medical by 221.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,075 shares of the medical device company’s stock worth $1,496,000 after buying an additional 19,346 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Globus Medical in the fourth quarter worth approximately $95,537,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

Globus Medical stock opened at $70.00 on Tuesday. The stock has a market cap of $9.48 billion, a P/E ratio of 109.38, a PEG ratio of 1.91 and a beta of 1.17. Globus Medical, Inc. has a 1 year low of $43.38 and a 1 year high of $74.21. The firm’s 50 day moving average price is $70.87 and its 200-day moving average price is $63.17.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Tuesday, August 6th. The medical device company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. Globus Medical had a net margin of 1.82% and a return on equity of 8.70%. The company had revenue of $629.69 million for the quarter, compared to analysts’ expectations of $615.33 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. Globus Medical’s quarterly revenue was up 115.9% on a year-over-year basis. As a group, equities analysts expect that Globus Medical, Inc. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GMED. Morgan Stanley raised their price objective on shares of Globus Medical from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Barclays raised their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Piper Sandler upgraded shares of Globus Medical from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $80.00 in a research note on Monday, May 20th. Truist Financial raised their target price on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 1,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the director now owns 16,419 shares in the company, valued at $1,149,330. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.54% of the stock is currently owned by company insiders.

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.