Vestcor Inc Has $1.33 Million Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Vestcor Inc boosted its position in Globus Medical, Inc. (NYSE:GMED - Free Report) by 840.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,084 shares of the medical device company's stock after buying an additional 14,373 shares during the quarter. Vestcor Inc's holdings in Globus Medical were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the 4th quarter valued at about $27,000. Quarry LP raised its stake in shares of Globus Medical by 698.4% in the 3rd quarter. Quarry LP now owns 495 shares of the medical device company's stock valued at $35,000 after purchasing an additional 433 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company's stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company's stock valued at $48,000 after purchasing an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Globus Medical by 24.7% in the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company's stock valued at $55,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on GMED. Stifel Nicolaus upped their target price 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. BTIG Research boosted 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. Truist Financial lowered their price objective on shares of Globus Medical from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Globus Medical from $95.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.09.

Globus Medical Price Performance

Shares of Globus Medical stock traded up $1.76 on Wednesday, hitting $73.35. The company had a trading volume of 1,252,537 shares, compared to its average volume of 1,328,124. The business has a 50-day simple moving average of $84.39 and a 200-day simple moving average of $79.79. The company has a market cap of $10.09 billion, a PE ratio of 97.80, a PEG 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 posted its quarterly earnings data 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. The business had revenue of $657.29 million during the quarter, compared to analysts' expectations of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of the company's stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.