Kathmere Capital Management LLC Buys New Position in Globus Medical, Inc. (NYSE:GMED)

Kathmere Capital Management LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 279,176 shares of the medical device company's stock, valued at approximately $23,091,000. Globus Medical comprises about 2.1% of Kathmere Capital Management LLC's portfolio, making the stock its 12th biggest holding. Kathmere Capital Management LLC owned 0.21% of Globus Medical as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company's stock valued at $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Globus Medical by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,514,891 shares of the medical device company's stock valued at $172,245,000 after purchasing an additional 35,054 shares during the period. Geode Capital Management LLC lifted its stake in shares of Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock worth $134,893,000 after purchasing an additional 21,935 shares in the last quarter. Magnetar Financial LLC boosted its position in shares of Globus Medical by 1.7% in the second quarter. Magnetar Financial LLC now owns 1,718,487 shares of the medical device company's stock worth $117,699,000 after buying an additional 29,200 shares during the period. Finally, Geneva Capital Management LLC grew its stake in shares of Globus Medical by 1.1% in the third quarter. Geneva Capital Management LLC now owns 1,598,130 shares of the medical device company's stock valued at $114,330,000 after buying an additional 18,117 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Globus Medical Stock Up 2.7 %

Shares of NYSE:GMED traded up $2.38 on Wednesday, reaching $90.56. 1,676,294 shares of the company's stock were exchanged, compared to its average volume of 1,350,672. The business's 50-day moving average is $83.55 and its two-hundred day moving average is $75.53. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $90.95. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 135.16, a PEG ratio of 1.97 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.18. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Globus Medical's quarterly revenue was up 63.1% on a year-over-year basis. Analysts predict that Globus Medical, Inc. will post 2.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Daniel T. Scavilla sold 60,000 shares of Globus Medical stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,667 shares of company stock valued at $6,674,554. Insiders own 18.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GMED shares. Canaccord Genuity Group boosted their price target on Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Morgan Stanley raised shares of Globus Medical from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company raised their target price on Globus Medical from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Piper Sandler boosted their price target on Globus Medical from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.91.

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.