Thrivent Financial for Lutherans Has $41.71 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Thrivent Financial for Lutherans lowered its position in shares of Globus Medical, Inc. (NYSE:GMED) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 583,057 shares of the medical device company’s stock after selling 29,106 shares during the quarter. Thrivent Financial for Lutherans owned about 0.43% of Globus Medical worth $41,712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB increased its holdings in Globus Medical by 15.4% in the 2nd quarter. Swedbank AB now owns 375,000 shares of the medical device company’s stock worth $25,684,000 after purchasing an additional 50,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Globus Medical by 17.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,136,697 shares of the medical device company’s stock valued at $77,852,000 after purchasing an additional 172,605 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Globus Medical by 12.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 85,429 shares of the medical device company’s stock worth $4,839,000 after acquiring an additional 9,754 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Globus Medical in the 2nd quarter valued at $611,000. Finally, Bessemer Group Inc. grew its holdings in shares of Globus Medical by 26.4% during the first quarter. Bessemer Group Inc. now owns 34,951 shares of the medical device company’s stock valued at $1,875,000 after buying an additional 7,294 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Globus Medical Price Performance

Globus Medical stock opened at $81.80 on Tuesday. The business has a fifty day moving average price of $73.60 and a 200-day moving average price of $70.04. The firm has a market capitalization of $11.08 billion, a P/E ratio of 122.09, a PEG ratio of 1.94 and a beta of 1.17. Globus Medical, Inc. has a one year low of $44.02 and a one year high of $84.87.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The company had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. Sell-side analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

Insider Transactions at Globus Medical

In related news, SVP Kelly Huller sold 5,000 shares of Globus Medical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total value of $405,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann D. Rhoads sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the completion of the sale, the director now directly owns 42,884 shares of the company’s stock, valued at $3,017,318.24. This represents a 25.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $8,512,850 in the last quarter. Insiders own 18.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GMED. Roth Mkm reissued a “buy” rating and issued a $100.00 price target on shares of Globus Medical in a research report on Wednesday, November 6th. Morgan Stanley boosted their price objective on Globus Medical from $74.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays raised their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Truist Financial boosted their price target 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. Finally, Stifel Nicolaus raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.18.

Globus Medical 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.