Vanguard Group Inc. Acquires 240,218 Shares of Globus Medical, Inc. (NYSE:GMED)

Vanguard Group Inc. boosted its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,863,834 shares of the medical device company’s stock after purchasing an additional 240,218 shares during the quarter. Vanguard Group Inc. owned about 7.98% of Globus Medical worth $898,548,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Globus Medical during the 4th quarter valued at approximately $27,000. Quarry LP boosted its position in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares during the last quarter. UMB Bank n.a. grew its stake in Globus Medical by 60.2% during the fourth 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 in the last quarter. V Square Quantitative Management LLC increased its holdings in Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after acquiring an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in 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 purchasing an additional 132 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Trading Down 1.6 %

Shares of NYSE:GMED 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 company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 96.65, a PEG ratio of 1.61 and a beta of 1.19. The firm’s 50-day moving average is $82.14 and its 200 day moving average is $79.85.

Globus Medical (NYSE:GMED) last announced its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. As a group, equities analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at Globus Medical

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated Friday, January 10th. The shares were 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 is accessible through this hyperlink. 18.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a report on Tuesday, March 18th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Truist Financial cut their target price on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. StockNews.com downgraded shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, 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. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

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.