Globus Medical, Inc. (NYSE:GMED) Holdings Increased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lifted its stake in Globus Medical, Inc. (NYSE:GMED) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,875 shares of the medical device company’s stock after acquiring an additional 641 shares during the period. Legacy Capital Group California Inc.’s holdings in Globus Medical were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP raised its position in Globus Medical by 698.4% in 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 in the last quarter. UMB Bank n.a. raised its holdings in shares of Globus Medical by 60.2% in the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Globus Medical by 230.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after purchasing an additional 385 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Globus Medical by 52.0% during the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 197 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Globus Medical by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 1,258 shares of the medical device company’s stock worth $104,000 after buying an additional 370 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at Globus Medical

In other news, SVP Kelly Huller sold 2,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Performance

GMED stock opened at $80.43 on Friday. The stock has a market cap of $10.95 billion, a P/E ratio of 120.04, a P/E/G ratio of 1.60 and a beta of 1.19. The firm has a 50 day simple moving average of $86.76 and a 200 day simple moving average of $78.94. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

Globus Medical (NYSE:GMED) last issued its earnings results 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. Globus Medical had a net margin of 3.69% and a return on equity of 9.98%. The company had revenue of $657.29 million during the quarter, compared to analyst estimates of $646.19 million. Sell-side analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

Analysts Set New Price Targets

GMED has been the topic of several research reports. Piper Sandler upped their price target on Globus Medical from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Roth Mkm upped their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Royal Bank of Canada lifted their price target on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Finally, Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.91.

Globus Medical 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.