Globus Medical, Inc. (NYSE:GMED) Shares Bought by Geneva Capital Management LLC

Geneva Capital Management LLC grew its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 13.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,815,837 shares of the medical device company's stock after buying an additional 217,707 shares during the period. Globus Medical makes up 2.6% of Geneva Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Geneva Capital Management LLC owned about 1.33% of Globus Medical worth $150,188,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Globus Medical during the fourth quarter worth $58,405,000. Arizona State Retirement System boosted its position in shares of Globus Medical by 1.1% during the 4th quarter. Arizona State Retirement System now owns 32,788 shares of the medical device company's stock valued at $2,712,000 after acquiring an additional 358 shares in the last quarter. Aigen Investment Management LP bought a new stake in Globus Medical in the fourth quarter valued at about $207,000. Proficio Capital Partners LLC bought a new stake in Globus Medical in the fourth quarter valued at about $1,190,000. Finally, M&T Bank Corp raised its position in Globus Medical by 45.4% in the fourth quarter. M&T Bank Corp now owns 10,067 shares of the medical device company's stock worth $833,000 after purchasing an additional 3,141 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Down 2.6 %

NYSE:GMED traded down $2.00 during trading hours on Monday, hitting $75.41. 1,897,863 shares of the stock were exchanged, compared to its average volume of 1,288,857. The company's 50 day moving average is $85.90 and its two-hundred day moving average is $79.77. The company has a market capitalization of $10.37 billion, a P/E ratio of 100.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

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Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, equities research analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GMED shares. Canaccord Genuity Group lifted their price objective on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Friday, February 21st. Morgan Stanley upgraded Globus Medical from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Truist Financial lifted their price objective on Globus Medical from $85.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. Finally, Stifel Nicolaus upped their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.82.

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.