Inspire Investing LLC Makes New $767,000 Investment in Globus Medical, Inc. $GMED

Key Points

• Inspire Investing LLC acquired a new position in Globus Medical, Inc., purchasing 10,476 shares valued at approximately $767,000 during the first quarter.
• Multiple institutional investors have significantly increased their holdings in Globus Medical, with 95.16% of the stock currently owned by institutional entities.
• Globus Medical reported an EPS of $0.86 for the last quarter, surpassing estimates, with a year-over-year revenue increase of 18.4%.

Inspire Investing LLC purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,476 shares of the medical device company's stock, valued at approximately $767,000.

A number of other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Globus Medical by 145.5% during the first quarter. Farther Finance Advisors LLC now owns 405 shares of the medical device company's stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC increased 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 buying an additional 393 shares during the period. Parallel Advisors LLC lifted its position in Globus Medical by 62.1% during the 1st quarter. Parallel Advisors LLC now owns 504 shares of the medical device company's stock valued at $37,000 after purchasing an additional 193 shares during the period. Versant Capital Management Inc grew its holdings in Globus Medical by 932.1% during the 1st quarter. Versant Capital Management Inc now owns 547 shares of the medical device company's stock worth $40,000 after acquiring an additional 494 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Globus Medical by 46.5% during the first quarter. Whittier Trust Co. now owns 580 shares of the medical device company's stock worth $42,000 after buying an additional 184 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Globus Medical Stock Performance

NYSE:GMED traded down $0.45 during mid-day trading on Tuesday, hitting $57.79. The stock had a trading volume of 869,089 shares, compared to its average volume of 1,402,679. Globus Medical, Inc. has a twelve month low of $51.79 and a twelve month high of $94.93. The company's 50 day simple moving average is $57.82 and its 200 day simple moving average is $63.52. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.61 and a beta of 1.16.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, August 7th. The medical device company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. The business had revenue of $745.34 million during the quarter, compared to the consensus estimate of $738.91 million. Globus Medical had a net margin of 13.58% and a return on equity of 10.65%. Globus Medical's revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Globus Medical from $76.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. JMP Securities reissued a "market perform" rating on shares of Globus Medical in a report on Tuesday, May 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Monday, July 21st. Wall Street Zen upgraded Globus Medical from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barclays reiterated an "overweight" rating on shares of Globus Medical in a report on Tuesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Globus Medical has a consensus rating of "Moderate Buy" and an average target price of $87.64.

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.