Proficio Capital Partners LLC Buys Shares of 14,392 Globus Medical, Inc. (NYSE:GMED)

Proficio Capital Partners LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,392 shares of the medical device company’s stock, valued at approximately $1,190,000.

A number of other institutional investors have also recently added to or reduced their stakes in GMED. Quarry LP lifted its stake in shares of 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 buying an additional 433 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Globus Medical by 230.5% in the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock worth $39,000 after buying an additional 385 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after buying an additional 206 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after buying an additional 132 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Globus Medical Price Performance

Shares of Globus Medical stock opened at $77.48 on Friday. The firm has a market capitalization of $10.66 billion, a PE ratio of 103.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company’s fifty day moving average price is $85.90 and its two-hundred day moving average price is $79.63. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93.

Globus Medical (NYSE:GMED) last announced its quarterly 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. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. Analysts predict that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Globus Medical from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research boosted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Roth Mkm boosted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Finally, Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.82.

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.