CIBC Private Wealth Group LLC Purchases 135,177 Shares of Globus Medical, Inc. (NYSE:GMED)

CIBC Private Wealth Group LLC boosted its position in Globus Medical, Inc. (NYSE:GMED) by 8,104.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,845 shares of the medical device company’s stock after buying an additional 135,177 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.10% of Globus Medical worth $11,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after acquiring an additional 131 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Globus Medical by 24.7% in the fourth 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 last quarter. US Bancorp DE boosted its stake in shares of Globus Medical by 3.2% during the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after purchasing an additional 135 shares during the period. Berry Wealth Group LP grew its holdings in shares of Globus Medical by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after purchasing an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Globus Medical by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after buying an additional 175 shares during the period. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Roth Mkm boosted their price target on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Barclays increased their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. BTIG Research boosted their target price on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group raised their price target on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.09.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. 18.54% of the stock is currently owned by insiders.

Globus Medical Stock Up 0.9 %

Shares of GMED opened at $73.18 on Tuesday. The stock has a market cap of $10.07 billion, a P/E ratio of 97.57, a P/E/G ratio of 1.61 and a beta of 1.19. The business’s 50 day moving average price is $81.78 and its 200-day moving average price is $80.02. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. On average, equities analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

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.