Globus Medical, Inc. (NYSE:GMED) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Globus Medical, Inc. (NYSE:GMED - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,863,834 shares of the medical device company's stock after purchasing an additional 240,218 shares during the period. Vanguard Group Inc. owned about 7.98% of Globus Medical worth $898,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GMED. Raymond James Trust N.A. acquired a new stake in Globus Medical in the third quarter valued at approximately $205,000. Cerity Partners LLC increased its position in shares of Globus Medical by 25.9% in the 3rd quarter. Cerity Partners LLC now owns 45,750 shares of the medical device company's stock valued at $3,273,000 after purchasing an additional 9,404 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Globus Medical by 1,142.4% in the 3rd quarter. Bank of Montreal Can now owns 231,323 shares of the medical device company's stock valued at $16,334,000 after purchasing an additional 212,704 shares in the last quarter. FMR LLC lifted its position in shares of Globus Medical by 338.4% during the 3rd quarter. FMR LLC now owns 38,723 shares of the medical device company's stock worth $2,770,000 after purchasing an additional 29,890 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Globus Medical by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,170 shares of the medical device company's stock worth $20,830,000 after purchasing an additional 3,584 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on GMED. Barclays raised 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. BTIG Research increased their price objective on Globus Medical from $87.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Needham & Company LLC restated a "hold" rating on shares of Globus Medical in a research note on Tuesday, March 18th. Stifel Nicolaus increased their price target on shares of Globus Medical from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Roth Mkm boosted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.09.

Globus Medical Stock Performance

Globus Medical stock traded up $1.44 during midday trading on Wednesday, hitting $74.83. 228,387 shares of the company's stock were exchanged, compared to its average volume of 1,019,440. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 99.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The firm's 50 day simple moving average is $81.40 and its 200 day simple moving average is $80.05.

Globus Medical (NYSE:GMED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (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 firm had revenue of $657.29 million for the quarter, compared to analysts' expectations of $646.19 million. On average, equities research analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Transactions at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.