Conservest Capital Advisors Inc. Cuts Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Conservest Capital Advisors Inc. decreased its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,701 shares of the medical device company’s stock after selling 372 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Globus Medical were worth $464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in Globus Medical in the third quarter worth approximately $28,000. Allworth Financial LP boosted its stake in Globus Medical by 25.7% in the fourth quarter. Allworth Financial LP now owns 1,242 shares of the medical device company’s stock worth $66,000 after buying an additional 254 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Globus Medical by 122.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the medical device company’s stock worth $74,000 after buying an additional 823 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Globus Medical in the third quarter worth approximately $89,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Globus Medical in the third quarter worth approximately $205,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 0.4 %

Shares of Globus Medical stock traded up $0.18 during midday trading on Friday, reaching $50.55. 545,156 shares of the company’s stock traded hands, compared to its average volume of 891,173. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. The company has a market cap of $6.84 billion, a PE ratio of 43.21, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08. The stock has a 50 day moving average of $53.00 and a 200-day moving average of $51.32. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $62.88.

Globus Medical (NYSE:GMED) last announced its earnings results on Tuesday, February 20th. The medical device company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $616.53 million during the quarter, compared to the consensus estimate of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, equities analysts expect that Globus Medical, Inc. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of several research reports. Truist Financial upped their target price on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Globus Medical in a research note on Thursday, January 11th. Finally, Stifel Nicolaus increased their price objective on Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

Insiders Place Their Bets

In other Globus Medical news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $51.99, for a total value of $550,574.10. Following the completion of the transaction, the director now owns 17,419 shares in the company, valued at $905,613.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.30% of the stock is owned by corporate 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.