Private Advisor Group LLC Boosts Stake in Globus Medical, Inc. (NYSE:GMED)

Private Advisor Group LLC raised its position in Globus Medical, Inc. (NYSE:GMED) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,989 shares of the medical device company’s stock after buying an additional 753 shares during the period. Private Advisor Group LLC’s holdings in Globus Medical were worth $413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GMED. Venturi Wealth Management LLC bought a new position in shares of Globus Medical during the 4th quarter valued at approximately $130,000. Truist Financial Corp grew its position in shares of Globus Medical by 0.8% during the 4th quarter. Truist Financial Corp now owns 68,625 shares of the medical device company’s stock valued at $5,676,000 after acquiring an additional 563 shares during the period. CIBC Asset Management Inc grew its position in shares of Globus Medical by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock valued at $288,000 after acquiring an additional 175 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of Globus Medical during the 4th quarter valued at approximately $200,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Globus Medical during the 4th quarter valued at approximately $2,000,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 18.54% of the company’s stock.

Globus Medical Stock Down 1.4 %

Shares of Globus Medical stock opened at $78.13 on Wednesday. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 104.17, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93. The stock’s 50-day simple moving average is $86.28 and its 200-day simple moving average is $79.60.

Globus Medical (NYSE:GMED) last issued 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. 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 for the quarter, compared to the consensus estimate of $646.19 million. On average, equities analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on GMED. Roth Mkm raised their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Stifel Nicolaus raised their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada raised their price objective on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Piper Sandler raised their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average target price of $97.82.

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.