Thrivent Financial for Lutherans Acquires 95,435 Shares of Globus Medical, Inc. (NYSE:GMED)

Thrivent Financial for Lutherans increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 678,492 shares of the medical device company's stock after buying an additional 95,435 shares during the period. Thrivent Financial for Lutherans owned 0.50% of Globus Medical worth $56,118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Oak Thistle LLC acquired a new position in shares of Globus Medical during the fourth quarter valued at about $376,000. bLong Financial LLC bought a new stake in shares of Globus Medical in the 4th quarter worth approximately $397,000. Kathmere Capital Management LLC acquired a new stake in shares of Globus Medical during the 4th quarter worth approximately $23,091,000. Intech Investment Management LLC grew its holdings in shares of Globus Medical by 291.3% during the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company's stock worth $1,469,000 after purchasing an additional 15,283 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Globus Medical during the third quarter valued at approximately $523,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Stock Up 3.3 %

GMED stock traded up $2.43 during midday trading on Monday, reaching $76.02. 1,439,675 shares of the company's stock traded hands, compared to its average volume of 996,029. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 101.36, a PEG ratio of 1.61 and a beta of 1.19. The company has a 50-day simple moving average of $83.61 and a two-hundred day simple moving average of $79.83. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Roth Mkm lifted their price target on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their target price on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Finally, Barclays increased 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.09.

Insider Transactions at Globus Medical

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

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.