Pictet Asset Management Holding SA Has $6.57 Million Position in Globus Medical, Inc. (NYSE:GMED)

Pictet Asset Management Holding SA cut its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,450 shares of the medical device company's stock after selling 5,786 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Globus Medical worth $6,571,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Globus Medical by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,863,834 shares of the medical device company's stock worth $898,548,000 after acquiring an additional 240,218 shares during the period. State Street Corp raised its position in shares of 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 purchasing an additional 81,371 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Globus Medical by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,804,330 shares of the medical device company's stock worth $231,946,000 after buying an additional 199,556 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Globus Medical by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company's stock worth $134,893,000 after buying an additional 21,935 shares during the period. Finally, Geneva Capital Management LLC grew its stake in Globus Medical by 13.6% in the 4th 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 last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GMED shares. Roth Mkm boosted their price objective on Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Barclays boosted their price target on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Wells Fargo & Company decreased their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Truist Financial dropped their target price on Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Finally, Needham & Company LLC restated 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 given a buy rating to the company. According to MarketBeat, Globus Medical has an average rating of "Moderate Buy" and a consensus price target of $97.09.

Insiders Place Their Bets

In related 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 this link. Insiders own 18.54% of the company's stock.

Globus Medical Trading Down 3.2 %

NYSE GMED traded down $2.27 during trading on Tuesday, hitting $68.48. 1,287,304 shares of the company's stock were exchanged, compared to its average volume of 1,033,136. The stock's 50 day moving average price is $78.77 and its two-hundred day moving average price is $80.01. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a market cap of $9.42 billion, a PE ratio of 91.31, a P/E/G ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $657.29 million during 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%. Analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.