Proficio Capital Partners LLC Purchases New Shares in Globus Medical, Inc. (NYSE:GMED)

Proficio Capital Partners LLC acquired a new stake in Globus Medical, Inc. (NYSE:GMED - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,392 shares of the medical device company's stock, valued at approximately $1,190,000.

A number of other large investors have also bought and sold shares of the business. State Street Corp boosted its holdings 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 buying an additional 81,371 shares during the period. Geode Capital Management LLC boosted its stake in Globus Medical by 1.2% in 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 purchasing an additional 21,935 shares during the period. Parsifal Capital Management LP increased its holdings in Globus Medical by 50.5% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Globus Medical by 29.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company's stock valued at $88,610,000 after purchasing an additional 285,172 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of Globus Medical in the 3rd quarter valued at about $43,947,000. 95.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 18.54% of the company's stock.

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Analysts Set New Price Targets

GMED has been the subject of a number of research reports. Roth Mkm increased 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. Truist Financial decreased their price target on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Canaccord Genuity Group boosted their price objective 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. Bank of America raised shares of Globus Medical from an "underperform" rating to a "neutral" rating and raised their target price for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, StockNews.com lowered shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Globus Medical has a consensus rating of "Moderate Buy" and an average target price of $97.09.

Globus Medical Stock Performance

NYSE:GMED traded up $2.43 during mid-day trading on Monday, hitting $76.02. The stock had a trading volume of 1,439,675 shares, compared to its average volume of 996,029. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 101.36, a PEG ratio of 1.61 and a beta of 1.19. The company's 50 day simple moving average is $83.61 and its 200 day simple moving average is $79.83.

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 (EPS) for the quarter, beating analysts' consensus estimates 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. As a group, equities analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current 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.