HUB Investment Partners LLC Purchases New Position in Globus Medical, Inc. (NYSE:GMED)

HUB Investment Partners LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 13,987 shares of the medical device company's stock, valued at approximately $1,157,000.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in Globus Medical by 2.2% in the third quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock valued at $447,000 after purchasing an additional 131 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Globus Medical by 24.7% during the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock worth $55,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE raised its stake in shares of Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock valued at $356,000 after buying an additional 135 shares during the last quarter. Berry Wealth Group LP lifted its holdings in Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after acquiring an additional 164 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Globus Medical by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

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Globus Medical Stock Up 0.8 %

NYSE GMED traded up $0.59 on Tuesday, reaching $76.65. The stock had a trading volume of 1,511,866 shares, compared to its average volume of 995,983. The stock has a fifty day moving average price of $83.39 and a two-hundred day moving average price of $79.87. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 102.20, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The company 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%. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 18.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. BTIG Research lifted their price target on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Barclays lifted their price objective 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 given a buy rating to the stock. According to MarketBeat.com, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Globus Medical Company 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.