SBI Securities Co. Ltd. Purchases New Stake in Globus Medical, Inc. (NYSE:GMED)

SBI Securities Co. Ltd. purchased a new stake in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 326 shares of the medical device company’s stock, valued at approximately $27,000.

Several other hedge funds have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its holdings in Globus Medical by 2.2% in the third 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. boosted its holdings 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 acquiring an additional 132 shares during the last quarter. US Bancorp DE boosted its holdings in Globus Medical by 3.2% in the fourth quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock valued at $356,000 after acquiring an additional 135 shares during the last quarter. Berry Wealth Group LP boosted its holdings in 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 valued at $282,000 after acquiring an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Globus Medical by 5.3% during 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 last quarter. Institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Down 3.1 %

NYSE:GMED opened at $71.20 on Thursday. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 94.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The stock’s 50 day moving average price is $85.34 and its two-hundred day moving average price is $79.76.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping 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 return on equity of 10.83% and a net margin of 4.09%. As a group, analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

GMED has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. BTIG Research lifted their price objective on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lifted their price objective on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. 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 note on Friday, February 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Globus Medical in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.82.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through this hyperlink. 18.54% of the stock is owned by insiders.

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.