51,330 Shares in Globus Medical, Inc. (NYSE:GMED) Acquired by Madison Investment Advisors LLC

Madison Investment Advisors LLC purchased a new position in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 51,330 shares of the medical device company's stock, valued at approximately $4,246,000.

Several other large investors also recently added to or reduced their stakes in GMED. State Street Corp raised its stake in shares of Globus Medical by 2.3% in the third 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 during the period. Geode Capital Management LLC grew its holdings in Globus Medical by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock valued at $134,893,000 after purchasing an additional 21,935 shares during the last quarter. Geneva Capital Management LLC raised its position in Globus Medical by 13.6% in the 4th quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock worth $150,188,000 after purchasing an additional 217,707 shares during the period. Parsifal Capital Management LP lifted its stake in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company's stock worth $96,619,000 after purchasing an additional 453,053 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company's stock valued at $88,610,000 after buying an additional 285,172 shares during the period. 95.16% of the stock is owned by institutional investors.

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Globus Medical Trading Down 0.7 %

Shares of NYSE:GMED traded down $0.52 on Tuesday, reaching $71.63. The company had a trading volume of 1,097,107 shares, compared to its average volume of 987,869. The firm has a market capitalization of $9.85 billion, a PE ratio of 95.50, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The firm's 50 day simple moving average is $84.63 and its 200-day simple moving average is $79.80.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. As a group, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.54% of the company's stock.

Wall Street Analysts Forecast Growth

GMED has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday. Roth Mkm boosted their target price on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Stifel Nicolaus raised their price target on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Barclays boosted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, BTIG Research upped their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $97.09.

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.