Nisa Investment Advisors LLC buys 160 shares of Globus Medical, Inc. (NYSE:GMED)

Nisa Investment Advisors LLC increased its holdings in shares of Globus Medical, Inc. (NYSE:GMED – Free Report) by 15.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,165 shares of the medical device company’s stock after acquiring an additional 160 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Globus Medical were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vestal Point Capital LP purchased a new stake in shares of Globus Medical during the fourth quarter valued at approximately $42,632,000. Millrace Asset Group Inc. bought a new position in Globus Medical in the 4th quarter valued at approximately $2,103,000. Van ECK Associates Corp boosted its stake in shares of Globus Medical by 82.6% in the fourth quarter. Van ECK Associates Corp now owns 34,380 shares of the medical device company’s stock worth $1,832,000 after purchasing an additional 15,552 shares during the period. Leeward Investments LLC MA boosted its holdings in Globus Medical by 27.6% in the first quarter. Leeward Investments LLC MA now owns 222,188 shares of the medical device company’s stock valued at $11,918,000 after buying an additional 48,047 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Globus Medical by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,812 shares of the medical device company’s stock valued at $53,706,000 after buying an additional 60,060 shares during the period. Institutional investors own 95.16% of the company’s shares.

Globus Medical price performance

Shares of NYSE GMED opened at $72.05 on Monday. The stock has a market cap of $9.75 billion, a P/E ratio of 112.58, a PEG ratio of 1.95 and a beta of 1.15. The company’s 50-day simple moving average is $69.88, and its two-hundred-day simple moving average is $61.27. Globus Medical, Inc. it has a one year low of $43.38 and a one year high of $74.21.

Globus Medical (NYSE:GMED – Get Your Free Report ) last posted its earnings results on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. Globus Medical had a net margin of 3.51% and a return on equity of 8.82%. The company’s revenue for the quarter was up 115.9% year over year. In the same period last year, the company earned $0.63 per share. As a group, equities analysts expect Globus Medical, Inc. to post 2.82 earnings per share for the current fiscal year.

Internal activity at Globus Medical

In related news, Director Leslie V. Norwalk sold 1,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the transaction, the director now directly owns 16,419 shares in the company, valued at approximately $1,149,330. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. 18.54% of shares are currently owned by company insiders.

Analysts on Wall Street are forecasting an increase

Several equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $78.00 in a research report on Wednesday, August 7. Truist Financial upped their target price on shares of Globus Medical from $78.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. BTIG Research raised their price objective on Globus Medical from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus upped their target price on Globus Medical from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $77.00, based on data from MarketBeat.

Get the latest report on Globus Medical

About Globus Medical

(Free Report)

Globus Medical, Inc, a medical device company, develops and markets 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 the treatment of degenerative and congenital conditions, deformities, tumors and traumatic injuries; treatment options for motion preservation technologies consisting of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions for treating vertebral compression fractures; and regenerative biologics containing allografts and synthetic alternatives.

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