Globus Medical, Inc. $GMED Stock Position Raised by Angeles Wealth Management LLC

Angeles Wealth Management LLC raised its position in shares of Globus Medical, Inc. (NYSE:GMED) by 38.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,039 shares of the medical device company’s stock after purchasing an additional 1,389 shares during the period. Angeles Wealth Management LLC’s holdings in Globus Medical were worth $297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Globus Medical by 145.5% in the 1st quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Globus Medical by 1,007.7% in the 1st quarter. Larson Financial Group LLC now owns 432 shares of the medical device company’s stock valued at $32,000 after acquiring an additional 393 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Globus Medical by 46.5% in the 1st quarter. Whittier Trust Co. now owns 580 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 184 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Globus Medical by 202.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 572 shares of the medical device company’s stock valued at $42,000 after acquiring an additional 383 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Globus Medical by 41.1% in the 2nd quarter. Signaturefd LLC now owns 958 shares of the medical device company’s stock valued at $57,000 after acquiring an additional 279 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globus Medical

In other news, Director Ann D. Rhoads sold 10,000 shares of Globus Medical stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $58.46, for a total transaction of $584,600.00. Following the sale, the director owned 25,384 shares of the company’s stock, valued at approximately $1,483,948.64. This trade represents a 28.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.51% of the company’s stock.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Globus Medical in a research note on Wednesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Globus Medical in a research note on Monday, July 21st. Canaccord Genuity Group cut their price objective on Globus Medical from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Morgan Stanley cut their price objective on Globus Medical from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and an average price target of $87.27.

Globus Medical Stock Up 1.8%

GMED opened at $59.61 on Friday. The firm has a market capitalization of $8.05 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.12. The stock’s 50 day moving average price is $59.15 and its two-hundred day moving average price is $60.93. Globus Medical, Inc. has a 12-month low of $51.79 and a 12-month high of $94.93.

Globus Medical (NYSE:GMED) last released its 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. The firm had revenue of $745.34 million for the quarter, compared to analyst estimates of $738.91 million. Globus Medical had a return on equity of 10.65% and a net margin of 13.58%.The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

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.