Canada Pension Plan Investment Board Takes $943,000 Position in Globus Medical, Inc. (NYSE:GMED)

Canada Pension Plan Investment Board acquired a new position in Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,400 shares of the medical device company’s stock, valued at approximately $943,000.

Several other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Globus Medical in the 4th quarter valued at $27,000. UMB Bank n.a. boosted its position 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 during the last quarter. V Square Quantitative Management LLC raised its position in shares of 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 worth $48,000 after acquiring an additional 197 shares in the last quarter. First Horizon Advisors Inc. lifted its stake 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 valued at $55,000 after purchasing an additional 132 shares during the period. Finally, Huntington National Bank boosted its position in shares of Globus Medical by 47.8% during the 4th quarter. Huntington National Bank now owns 958 shares of the medical device company’s stock valued at $79,000 after purchasing an additional 310 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GMED has been the topic of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their price target on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Truist Financial cut their target price on Globus Medical from $82.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Trading Up 1.8 %

Shares of NYSE GMED opened at $73.11 on Friday. 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 simple moving average of $74.54 and a two-hundred day simple moving average of $80.00. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 97.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

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

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.