2,780 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,780 shares of the medical device company’s stock, valued at approximately $230,000.

Several other large investors also recently made changes to their positions in GMED. SBI Securities Co. Ltd. acquired a new stake in Globus Medical during the fourth quarter valued at approximately $27,000. Quarry LP increased its holdings in shares of Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after buying an additional 433 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings 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 worth $55,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 1.6 %

Globus Medical stock opened at $72.49 on Friday. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The stock has a market cap of $9.97 billion, a P/E ratio of 96.65, a P/E/G ratio of 1.61 and a beta of 1.19. The company’s fifty day simple moving average is $82.14 and its 200-day simple moving average is $79.85.

Globus Medical (NYSE:GMED) last issued 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 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%. On average, equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GMED has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Truist Financial dropped their target price on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus upped their price target 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. Finally, Canaccord Genuity Group lifted their price objective 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.09.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 18.54% of the company’s stock.

About Globus Medical

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.