Artemis Investment Management LLP Grows Position in Globus Medical, Inc. (NYSE:GMED)

Artemis Investment Management LLP boosted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 516,887 shares of the medical device company's stock after acquiring an additional 88,368 shares during the quarter. Artemis Investment Management LLP owned 0.38% of Globus Medical worth $42,752,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GMED. State Street Corp boosted its position 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 worth $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Magnetar Financial LLC boosted its holdings in 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 valued at $117,699,000 after purchasing an additional 29,200 shares in the last quarter. Geneva Capital Management LLC increased its stake in 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 purchasing an additional 18,117 shares during the last quarter. Finally, AXA S.A. raised its holdings in Globus Medical by 0.5% during the second quarter. AXA S.A. now owns 1,478,242 shares of the medical device company's stock worth $101,245,000 after purchasing an additional 7,443 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity at Globus Medical

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

Analyst Ratings Changes

GMED has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their target price on Globus Medical from $80.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Morgan Stanley raised Globus Medical from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.91.

Globus Medical Stock Up 0.4 %

Shares of GMED traded up $0.37 on Monday, reaching $90.84. The stock had a trading volume of 1,863,875 shares, compared to its average volume of 809,636. The firm has a 50-day moving average of $84.08 and a 200 day moving average of $76.00. The firm has a market capitalization of $12.37 billion, a PE ratio of 135.57, a PEG ratio of 1.80 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $91.44.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.18. The company had revenue of $625.71 million during the quarter, compared to analysts' expectations of $604.69 million. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The firm's quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, sell-side analysts anticipate that Globus Medical, Inc. will post 2.98 earnings per share for the current fiscal year.

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.