Segall Bryant & Hamill LLC Raises Holdings in Globus Medical, Inc. (NYSE:GMED)

Segall Bryant & Hamill LLC boosted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401,858 shares of the medical device company’s stock after buying an additional 14,121 shares during the period. Segall Bryant & Hamill LLC’s holdings in Globus Medical were worth $33,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GMED. Pathstone Holdings LLC raised its position in shares of Globus Medical by 2.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,007 shares of the medical device company’s stock worth $2,934,000 after acquiring an additional 1,055 shares in the last quarter. Intech Investment Management LLC grew its stake in Globus Medical by 291.3% in the third quarter. Intech Investment Management LLC now owns 20,530 shares of the medical device company’s stock valued at $1,469,000 after purchasing an additional 15,283 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Globus Medical in the third quarter worth about $26,406,000. Charles Schwab Investment Management Inc. lifted its position in shares of Globus Medical by 29.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after buying an additional 285,172 shares during the last quarter. Finally, Raymond James Trust N.A. bought a new position in shares of Globus Medical during the 3rd quarter worth approximately $205,000. Institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GMED. Barclays upped their price target on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. StockNews.com lowered Globus Medical from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Truist Financial dropped their price objective on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Stock Up 3.3 %

Globus Medical stock opened at $76.02 on Tuesday. The business’s 50-day moving average price is $83.39 and its 200 day moving average price is $79.87. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 101.36, a price-to-earnings-growth 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.

Globus Medical (NYSE:GMED) last issued its quarterly earnings data 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 net margin of 4.09% and a return on equity of 10.83%. The business had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. Equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction dated Friday, January 10th. The shares were 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 can be accessed through this hyperlink. 18.54% of the stock is owned by company insiders.

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.