Vanguard Group Inc. Purchases 240,218 Shares of Globus Medical, Inc. (NYSE:GMED)

Vanguard Group Inc. lifted its position in Globus Medical, Inc. (NYSE:GMED) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,863,834 shares of the medical device company’s stock after buying an additional 240,218 shares during the period. Vanguard Group Inc. owned 0.08% of Globus Medical worth $898,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Globus Medical during the 4th quarter valued at about $27,000. Quarry LP boosted its stake in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock valued at $35,000 after purchasing an additional 433 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after purchasing an additional 206 shares in the last quarter. V Square Quantitative Management LLC increased its holdings 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 buying an additional 197 shares during the period. Finally, First Horizon Advisors Inc. raised its stake 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 worth $55,000 after buying an additional 132 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Bank of America raised shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Roth Mkm lifted their price objective on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reduced 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 note on Friday, February 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Globus Medical currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Price Performance

Shares of GMED opened at $72.49 on Friday. The company’s fifty day moving average price is $82.14 and its 200-day moving average price is $79.85. The firm has a market capitalization of $9.97 billion, a PE ratio of 96.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity at Globus Medical

In other Globus Medical news, 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 value of $1,250,804.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.54% of the stock is owned by company insiders.

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.