MetLife Investment Management LLC Has $4.18 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

MetLife Investment Management LLC decreased its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,374 shares of the medical device company’s stock after selling 920 shares during the period. MetLife Investment Management LLC’s holdings in Globus Medical were worth $4,176,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Globus Medical during the 3rd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Globus Medical during the second quarter worth $33,000. Farther Finance Advisors LLC raised its stake in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the period. GAMMA Investing LLC raised its position in Globus Medical by 254.5% in the 2nd quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after buying an additional 453 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Globus Medical during the 2nd quarter worth about $52,000. 95.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.01, for a total value of $405,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,512,850 over the last ninety days. 18.54% of the stock is owned by company insiders.

Globus Medical Stock Performance

NYSE GMED opened at $83.90 on Tuesday. Globus Medical, Inc. has a fifty-two week low of $44.02 and a fifty-two week high of $87.22. The stock has a market cap of $11.42 billion, a PE ratio of 125.22, a PEG ratio of 2.04 and a beta of 1.17. The firm’s fifty day moving average price is $76.52 and its two-hundred day moving average price is $71.77.

Globus Medical (NYSE:GMED) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts predict that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMED has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Globus Medical from $78.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Canaccord Genuity Group raised their target price on shares of Globus Medical from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Globus Medical in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus upped their target price on Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and an average price target of $89.73.

About Globus Medical

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.