HB Wealth Management LLC Invests $301,000 in Globus Medical, Inc. (NYSE:GMED)

HB Wealth Management LLC purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,634 shares of the medical device company's stock, valued at approximately $301,000.

Several other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Globus Medical during the 3rd quarter valued at approximately $27,000. Quarry LP boosted its holdings in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock worth $35,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC increased its position in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Globus Medical by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 888 shares of the medical device company's stock valued at $64,000 after purchasing an additional 257 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Globus Medical during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insiders Place Their Bets

In other news, CEO Daniel T. Scavilla sold 60,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total transaction of $4,801,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,667 shares of company stock worth $6,674,554. 18.54% of the stock is owned by corporate insiders.

Globus Medical Stock Up 0.4 %

NYSE:GMED traded up $0.40 during mid-day trading on Friday, reaching $92.82. The company's stock had a trading volume of 503,479 shares, compared to its average volume of 1,315,928. The firm has a market capitalization of $12.64 billion, a PE ratio of 138.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The stock has a fifty day moving average of $84.87 and a 200-day moving average of $76.56. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $93.67.

Globus Medical (NYSE:GMED - Get Free Report) last posted its earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share 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 analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical's revenue was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, analysts expect that Globus Medical, Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

GMED has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Globus Medical from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and upped their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Globus Medical has a consensus rating of "Moderate Buy" and a consensus price target of $96.91.

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.