Wells Fargo & Company MN Reduces Stake in Globus Medical, Inc. (NYSE:GMED)

Wells Fargo & Company MN decreased its position in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,411 shares of the medical device company's stock after selling 11,165 shares during the quarter. Wells Fargo & Company MN owned 0.16% of Globus Medical worth $17,899,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its holdings in shares of Globus Medical by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company's stock worth $447,000 after acquiring an additional 131 shares during the period. First Horizon Advisors Inc. raised its position in Globus Medical by 24.7% during the fourth 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. US Bancorp DE lifted its stake in Globus Medical by 3.2% during the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company's stock worth $356,000 after purchasing an additional 135 shares during the last quarter. Berry Wealth Group LP boosted its holdings in shares of Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company's stock valued at $282,000 after purchasing an additional 164 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company's stock valued at $288,000 after purchasing an additional 175 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GMED. Stifel Nicolaus upped their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Globus Medical from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Globus Medical in a report on Tuesday, March 18th. Wells Fargo & Company dropped 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 note on Friday, February 21st. Finally, Barclays boosted their target price on shares of Globus Medical from $100.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.91.

Globus Medical Stock Down 0.2 %

Globus Medical stock traded down $0.11 during midday trading on Friday, hitting $71.03. 574,325 shares of the stock were exchanged, compared to its average volume of 1,039,925. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The business's 50-day moving average price is $75.84 and its 200-day moving average price is $79.97. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 94.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

Globus Medical (NYSE:GMED - Get Free Report) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.10. The firm had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. On average, sell-side analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Globus Medical Company 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.