LPL Financial LLC Acquires 8,987 Shares of Globus Medical, Inc. (NYSE:GMED)

LPL Financial LLC increased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,548 shares of the medical device company's stock after acquiring an additional 8,987 shares during the quarter. LPL Financial LLC owned 0.09% of Globus Medical worth $10,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its holdings in shares of Globus Medical by 2.2% in the 3rd 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 period. First Horizon Advisors Inc. increased its stake in shares of Globus Medical by 24.7% in 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 period. US Bancorp DE lifted its holdings in shares of Globus Medical by 3.2% during the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after buying an additional 135 shares during the last quarter. Berry Wealth Group LP raised its position in shares of Globus Medical by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after buying an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Globus Medical by 5.3% in the fourth 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. Institutional investors and hedge funds own 95.16% of the company's stock.

Insiders Place Their Bets

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 18.54% of the company's stock.

Globus Medical Price Performance

Shares of NYSE GMED traded down $2.27 during mid-day trading on Tuesday, hitting $68.48. The company's stock had a trading volume of 1,287,304 shares, compared to its average volume of 1,033,136. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93. The company's fifty day simple moving average is $78.77 and its 200-day simple moving average is $80.01. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 91.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, sell-side analysts predict that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target 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. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Truist Financial lowered their price target on Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. BTIG Research increased their price objective on Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reduced 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 note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.09.

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.