Okabena Investment Services Inc. Makes New $644,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Okabena Investment Services Inc. purchased a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,788 shares of the medical device company's stock, valued at approximately $644,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in shares of Globus Medical during the fourth quarter valued at approximately $376,000. bLong Financial LLC bought a new position in shares of Globus Medical during the 4th quarter worth about $397,000. Kathmere Capital Management LLC acquired a new stake in shares of Globus Medical during the 4th quarter valued at about $23,091,000. State Street Corp increased its stake 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. Finally, HB Wealth Management LLC acquired a new position in Globus Medical in the fourth quarter worth about $301,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Trading Up 2.1 %

Shares of Globus Medical stock traded up $1.56 during midday trading on Wednesday, reaching $74.95. The company had a trading volume of 523,108 shares, compared to its average volume of 1,308,355. The stock has a fifty day simple moving average of $81.40 and a 200 day simple moving average of $80.05. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 99.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

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, 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 company had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Sell-side analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Canaccord Genuity Group upped their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Stifel Nicolaus lifted their price objective on Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a report on Friday, February 21st. BTIG Research upped their target price on shares of Globus Medical from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company's 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.54% of the company's stock.

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.