2,716 Shares in Globus Medical, Inc. (NYSE:GMED) Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC bought a new position in Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,716 shares of the medical device company’s stock, valued at approximately $225,000.

Other large investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC acquired a new position in shares of Globus Medical during the fourth quarter valued at $376,000. bLong Financial LLC bought a new position in Globus Medical during the fourth quarter valued at about $397,000. Kathmere Capital Management LLC bought a new position in Globus Medical during the fourth quarter valued at about $23,091,000. Quest Partners LLC bought a new position in Globus Medical during the third quarter valued at about $523,000. Finally, Intech Investment Management LLC boosted its stake in Globus Medical by 291.3% during 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 buying an additional 15,283 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Trading Down 1.8 %

GMED opened at $78.55 on Friday. The stock has a market cap of $10.70 billion, a PE ratio of 104.74, a P/E/G 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. The stock’s 50 day simple moving average is $86.51 and its 200-day simple moving average is $79.25.

Globus Medical (NYSE:GMED) last released 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 analysts’ expectations of $646.19 million. Equities analysts forecast 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, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total transaction of $217,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’s 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 disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GMED. BTIG Research increased their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Friday, February 21st. Stifel Nicolaus lifted their price target on Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Barclays boosted their target price on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.