Leith Wheeler Investment Counsel Ltd. Purchases 9,760 Shares of Globus Medical, Inc. $GMED

Leith Wheeler Investment Counsel Ltd. grew its position in shares of Globus Medical, Inc. (NYSE:GMED) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,408 shares of the medical device company’s stock after purchasing an additional 9,760 shares during the period. Globus Medical comprises about 0.6% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 29th largest holding. Leith Wheeler Investment Counsel Ltd. owned approximately 0.13% of Globus Medical worth $10,707,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Globus Medical by 1,501.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 164,382 shares of the medical device company’s stock worth $9,896,000 after purchasing an additional 154,117 shares during the last quarter. CWM LLC lifted its stake in Globus Medical by 40.2% during the second quarter. CWM LLC now owns 1,629 shares of the medical device company’s stock worth $96,000 after purchasing an additional 467 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Globus Medical by 9.1% during the second quarter. Johnson Investment Counsel Inc. now owns 3,645 shares of the medical device company’s stock worth $215,000 after purchasing an additional 304 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Globus Medical by 14.7% in the 2nd quarter. IFP Advisors Inc now owns 14,916 shares of the medical device company’s stock valued at $923,000 after acquiring an additional 1,917 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Globus Medical by 190.5% in the 2nd quarter. US Bancorp DE now owns 12,479 shares of the medical device company’s stock valued at $737,000 after acquiring an additional 8,183 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Insider Transactions at Globus Medical

In related news, Director Ann D. Rhoads sold 10,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the transaction, the director owned 25,384 shares in the company, valued at $1,483,948.64. The trade was a 28.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.51% of the stock is currently owned by corporate insiders.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $56.69 on Monday. Globus Medical, Inc. has a 1 year low of $51.79 and a 1 year high of $94.93. The company has a market cap of $7.66 billion, a PE ratio of 21.80, a P/E/G ratio of 1.55 and a beta of 1.12. The stock’s 50-day moving average is $58.77 and its 200 day moving average is $61.27.

Globus Medical (NYSE:GMED) last announced its quarterly earnings results on Thursday, August 7th. The medical device company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The company had revenue of $745.34 million for the quarter, compared to the consensus estimate of $738.91 million. During the same quarter in the previous year, the business earned $0.75 EPS. Globus Medical’s revenue was up 18.4% compared to the same quarter last year. Analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Canaccord Genuity Group lowered their target price on Globus Medical from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Wells Fargo & Company lowered their target price on Globus Medical from $76.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Finally, Royal Bank Of Canada set a $88.00 target price on Globus Medical in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.27.

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.