JPMorgan Chase & Co. Has $231.95 Million Holdings in Globus Medical, Inc. (NYSE:GMED)

JPMorgan Chase & Co. lifted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,804,330 shares of the medical device company's stock after acquiring an additional 199,556 shares during the period. JPMorgan Chase & Co. owned about 2.06% of Globus Medical worth $231,946,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GMED. Raymond James Financial Inc. purchased a new position in Globus Medical during the 4th quarter worth approximately $58,405,000. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Globus Medical in the third quarter worth $43,947,000. Lord Abbett & CO. LLC purchased a new position in shares of Globus Medical during the third quarter valued at $37,948,000. Parsifal Capital Management LP raised its position in Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company's stock valued at $96,619,000 after buying an additional 453,053 shares during the period. Finally, Kathmere Capital Management LLC purchased a new stake in Globus Medical in the 4th quarter worth about $23,091,000. Institutional investors and hedge funds own 95.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GMED shares. BTIG Research lifted their target price on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Stifel Nicolaus increased their target price on shares of Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Globus Medical presently has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction on 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 accessible through this link. Corporate insiders own 18.54% of the company's stock.

Globus Medical Stock Down 4.2 %

Globus Medical stock traded down $3.01 during mid-day trading on Friday, reaching $69.01. The company had a trading volume of 2,057,719 shares, compared to its average volume of 1,029,888. The company has a 50 day moving average of $80.17 and a 200-day moving average of $80.03. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 92.01, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED - Get Free Report) last issued 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 firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. On average, analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal 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.