Proficio Capital Partners LLC acquired a new position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,392 shares of the medical device company's stock, valued at approximately $1,190,000.
Several other large investors also recently added to or reduced their stakes in GMED. Quarry LP grew its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company's stock valued at $39,000 after buying an additional 385 shares during the period. UMB Bank n.a. lifted its position in Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock worth $45,000 after buying an additional 206 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after buying an additional 197 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after acquiring an additional 132 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm's stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. 18.54% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have commented on GMED. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a "hold" rating on shares of Globus Medical in a report on Friday, February 21st. Bank of America upgraded shares of Globus Medical from an "underperform" rating to a "neutral" rating and upped their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company cut their price objective on Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Roth Mkm raised their target price on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Globus Medical has an average rating of "Moderate Buy" and a consensus target price of $97.82.
Read Our Latest Report on Globus Medical
Globus Medical Trading Down 2.7 %
NYSE GMED traded down $2.07 on Tuesday, reaching $73.39. The company's stock had a trading volume of 2,067,373 shares, compared to its average volume of 1,305,790. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The firm has a market cap of $10.09 billion, a PE ratio of 97.85, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The business has a 50-day moving average price of $85.75 and a 200 day moving average price of $79.81.
Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share 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 for the quarter, compared to analyst estimates of $646.19 million. Analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.
Globus Medical Profile
(
Free Report)
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.
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