Segall Bryant & Hamill LLC Acquires 14,121 Shares of Globus Medical, Inc. (NYSE:GMED)

Segall Bryant & Hamill LLC boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 401,858 shares of the medical device company’s stock after purchasing an additional 14,121 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.30% of Globus Medical worth $33,238,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GMED. Pathstone Holdings LLC raised its position in shares of Globus Medical by 2.6% during the third quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock valued at $2,934,000 after buying an additional 1,055 shares during the last quarter. Intech Investment Management LLC increased its holdings in Globus Medical by 291.3% in the 3rd quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after acquiring an additional 15,283 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Globus Medical in the 3rd quarter worth $26,406,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Globus Medical by 29.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after purchasing an additional 285,172 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in shares of Globus Medical during the third quarter valued at about $205,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $76.02 on Tuesday. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 101.36, a PEG ratio of 1.61 and a beta of 1.19. The business’s 50 day moving average price is $83.39 and its 200-day moving average price is $79.87.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. The business had revenue of $657.29 million during 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%. Sell-side analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. 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 note on Tuesday, December 17th. Truist Financial lowered their target price on Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Canaccord Genuity Group boosted their price target on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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. Finally, 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 report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Globus Medical presently has a consensus rating of “Moderate Buy” and an average target price of $97.09.

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 on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.54% of the stock is owned by corporate insiders.

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.