XTX Topco Ltd Grows Position in Globus Medical, Inc. (NYSE:GMED)

XTX Topco Ltd raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,608 shares of the medical device company’s stock after purchasing an additional 1,125 shares during the quarter. XTX Topco Ltd’s holdings in Globus Medical were worth $1,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB increased its position in shares of Globus Medical by 15.4% during the second quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock valued at $25,684,000 after buying an additional 50,000 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Globus Medical by 17.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after buying an additional 172,605 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Globus Medical during the second quarter valued at about $611,000. Quest Partners LLC bought a new stake in shares of Globus Medical during the third quarter valued at about $523,000. Finally, Intech Investment Management LLC increased its position in shares of Globus Medical by 291.3% during the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after buying an additional 15,283 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

NYSE:GMED opened at $82.92 on Tuesday. The firm has a market cap of $11.29 billion, a PE ratio of 123.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. Globus Medical, Inc. has a fifty-two week low of $46.26 and a fifty-two week high of $87.22. The business has a 50 day moving average price of $77.81 and a 200-day moving average price of $72.40.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.18. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Research analysts predict that Globus Medical, Inc. will post 2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GMED shares. StockNews.com cut Globus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus upped their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. BTIG Research upped their price objective on shares of Globus Medical from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $90.36.

Insider Buying and Selling

In related news, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total value of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. The trade was a 25.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,500 shares of company stock valued at $8,730,350 over the last quarter. 18.54% of the stock is owned by company insiders.

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.