Zurcher Kantonalbank Zurich Cantonalbank Has $1.61 Million Stock Position in Globus Medical, Inc. (NYSE:GMED)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,179 shares of the medical device company’s stock after purchasing an additional 6,186 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globus Medical were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GMED. Vanguard Group Inc. raised its holdings in Globus Medical by 49.7% during the third quarter. Vanguard Group Inc. now owns 11,245,502 shares of the medical device company’s stock valued at $558,339,000 after buying an additional 3,732,959 shares in the last quarter. Paradice Investment Management LLC acquired a new position in Globus Medical during the 3rd quarter valued at $55,053,000. Bank of New York Mellon Corp lifted its stake in shares of Globus Medical by 80.0% in the third quarter. Bank of New York Mellon Corp now owns 2,406,682 shares of the medical device company’s stock valued at $119,492,000 after buying an additional 1,069,419 shares during the period. Nuance Investments LLC lifted its position in shares of Globus Medical by 36.8% in the 3rd quarter. Nuance Investments LLC now owns 3,620,518 shares of the medical device company’s stock worth $179,759,000 after acquiring an additional 974,693 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its position in shares of Globus Medical by 300.4% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,033,770 shares of the medical device company’s stock worth $51,327,000 after acquiring an additional 775,615 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Globus Medical Stock Up 0.3 %

NYSE:GMED opened at $51.44 on Thursday. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 4.88. The stock’s fifty day moving average price is $53.13 and its two-hundred day moving average price is $51.36. Globus Medical, Inc. has a 52-week low of $43.38 and a 52-week high of $62.88.

Globus Medical (NYSE:GMED) last issued its quarterly earnings results on Tuesday, February 20th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $616.53 million for the quarter, compared to analyst estimates of $608.21 million. Globus Medical had a return on equity of 8.82% and a net margin of 7.83%. The firm’s revenue for the quarter was up 124.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts anticipate that Globus Medical, Inc. will post 2.69 EPS for the current year.

Insider Transactions at Globus Medical

In related news, Director Leslie V. Norwalk sold 10,590 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.99, for a total value of $550,574.10. Following the transaction, the director now directly owns 17,419 shares in the company, valued at $905,613.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. BTIG Research raised Globus Medical from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, March 18th. Stifel Nicolaus lifted their target price on shares of Globus Medical from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial increased their target price on Globus Medical from $58.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Globus Medical in a report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

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.