4,544 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by one8zero8 LLC

one8zero8 LLC purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,544 shares of the medical device company's stock, valued at approximately $376,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Globus Medical by 2.3% during 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 buying an additional 81,371 shares during the period. Geode Capital Management LLC grew its position in Globus Medical by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock valued at $134,893,000 after buying an additional 21,935 shares during the period. Geneva Capital Management LLC grew its position in Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company's stock valued at $150,188,000 after buying an additional 217,707 shares during the period. Parsifal Capital Management LP boosted 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 worth $96,619,000 after purchasing an additional 453,053 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company's stock worth $88,610,000 after purchasing an additional 285,172 shares during the period. Institutional investors own 95.16% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GMED shares. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a research report on Tuesday. Bank of America upgraded shares of 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 research report on Thursday, January 9th. Canaccord Genuity Group increased their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Morgan Stanley upgraded shares of Globus Medical from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, BTIG Research raised their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Globus Medical currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.09.

Insider Activity at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Performance

GMED traded up $0.52 on Thursday, reaching $73.86. The company had a trading volume of 1,151,059 shares, compared to its average volume of 986,592. The business has a 50 day simple moving average of $84.13 and a 200 day simple moving average of $79.75. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 98.48, 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 announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, equities research analysts predict that Globus Medical, Inc. will post 3.44 EPS 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.