Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Globus Medical, Inc. (NYSE:GMED)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Globus Medical, Inc. (NYSE:GMED - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,095 shares of the medical device company's stock after purchasing an additional 3,828 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Globus Medical were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GMED. Crossmark Global Holdings Inc. grew its holdings in shares of Globus Medical by 6.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,750 shares of the medical device company's stock worth $554,000 after purchasing an additional 436 shares during the period. KBC Group NV boosted its holdings in Globus Medical by 0.5% during the 3rd quarter. KBC Group NV now owns 45,505 shares of the medical device company's stock valued at $3,255,000 after acquiring an additional 237 shares during the period. Quest Partners LLC purchased a new position in Globus Medical during the 3rd quarter valued at about $523,000. Pathstone Holdings LLC boosted its holdings in Globus Medical by 2.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company's stock valued at $2,934,000 after acquiring an additional 1,055 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in Globus Medical by 7.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 387,737 shares of the medical device company's stock valued at $27,739,000 after acquiring an additional 26,047 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction that occurred on Friday, January 10th. The stock was 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 SEC, which can be accessed through the SEC website. Company insiders own 18.54% of the company's stock.

Wall Street Analysts Forecast Growth

GMED has been the topic of a number of analyst reports. Barclays increased their price target on Globus Medical from $100.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Roth Mkm increased their price target on Globus Medical from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Bank of America raised Globus Medical from an "underperform" rating to a "neutral" rating and increased their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Canaccord Genuity Group increased their price target on Globus Medical from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Truist Financial reduced their price target on Globus Medical from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $97.09.

Globus Medical Stock Up 0.7 %

GMED traded up $0.52 during trading on Thursday, hitting $73.86. 1,150,813 shares of the stock were exchanged, compared to its average volume of 986,592. The firm has a market capitalization of $10.16 billion, a P/E ratio of 98.48, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The stock has a fifty day moving average price of $84.13 and a two-hundred day moving average price of $79.75.

Globus Medical (NYSE:GMED - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. The company had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. Analysts predict that Globus Medical, Inc. will post 3.44 EPS 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.