Corient Private Wealth LLC decreased its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,344 shares of the medical device company's stock after selling 7,985 shares during the period. Corient Private Wealth LLC's holdings in Globus Medical were worth $5,405,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of GMED. SBI Securities Co. Ltd. bought a new position in shares of Globus Medical during the 4th quarter worth $27,000. Quarry LP boosted its position in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after acquiring an additional 433 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after buying an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 95.16% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on GMED. Roth Mkm boosted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Canaccord Genuity Group boosted 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. BTIG Research increased their target price on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Truist Financial decreased their price objective on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.09.
View Our Latest Stock Report on GMED
Globus Medical Price Performance
Shares of Globus Medical stock traded down $2.29 during trading on Wednesday, hitting $74.34. The stock had a trading volume of 1,034,495 shares, compared to its average volume of 998,693. The stock has a market cap of $10.23 billion, a PE ratio of 99.12, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The firm's fifty day simple moving average is $83.16 and its 200-day simple moving average is $79.92.
Globus Medical (NYSE:GMED - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate 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 net margin of 4.09% and a return on equity of 10.83%. Analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.
Insider Buying and Selling at Globus Medical
In other news, CFO Keith W. Pfeil sold 14,167 shares of the business'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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 18.54% of the company's stock.
Globus Medical Company Profile
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Free Report)
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.
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