Victory Capital Management Inc. Buys 7,485 Shares of Globus Medical, Inc. (NYSE:GMED)

Victory Capital Management Inc. increased its stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,182 shares of the medical device company's stock after acquiring an additional 7,485 shares during the period. Victory Capital Management Inc. owned about 0.28% of Globus Medical worth $31,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Globus Medical during the 4th quarter worth about $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Globus Medical by 9.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,010 shares of the medical device company's stock worth $332,000 after buying an additional 351 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in Globus Medical in the 4th quarter valued at approximately $525,000. US Bancorp DE lifted its stake in Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock valued at $356,000 after acquiring an additional 135 shares in the last quarter. Finally, Fielder Capital Group LLC bought a new stake in Globus Medical in the 4th quarter valued at approximately $201,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.54% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GMED. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Stifel Nicolaus lifted their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. BTIG Research raised their price objective on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Barclays upped their target price on Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.82.

Globus Medical Trading Down 2.4 %

Shares of GMED traded down $1.69 during mid-day trading on Thursday, reaching $69.61. The company's stock had a trading volume of 1,886,452 shares, compared to its average volume of 1,335,857. The stock has a market cap of $9.57 billion, a P/E ratio of 92.81, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The business has a 50-day simple moving average of $85.34 and a two-hundred day simple moving average of $79.76.

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

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.