22,975 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,975 shares of the medical device company's stock, valued at approximately $1,900,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GMED. Oak Thistle LLC purchased a new stake in Globus Medical during the 4th quarter valued at $376,000. bLong Financial LLC bought a new stake in shares of Globus Medical in the fourth quarter worth $397,000. Kathmere Capital Management LLC purchased a new stake in Globus Medical during the fourth quarter valued at $23,091,000. Quantbot Technologies LP purchased a new stake in Globus Medical during the third quarter valued at $2,709,000. Finally, State Street Corp lifted its holdings in Globus Medical by 2.3% in the third quarter. State Street Corp now owns 3,570,726 shares of the medical device company's stock valued at $255,450,000 after acquiring an additional 81,371 shares during the period. Institutional investors own 95.16% of the company's stock.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.54% of the company's stock.

Globus Medical Price Performance

Shares of NYSE GMED traded up $0.13 during mid-day trading on Tuesday, reaching $73.33. The company's stock had a trading volume of 867,173 shares, compared to its average volume of 1,022,498. The stock has a fifty day moving average of $81.40 and a two-hundred day moving average of $80.05. The firm has a market capitalization of $10.09 billion, a PE ratio of 97.77, a P/E/G ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on GMED. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday, March 18th. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Barclays lifted their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. StockNews.com lowered Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, 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 report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.09.

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.