Globus Medical, Inc. (NYSE:GMED) Stock Holdings Increased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in Globus Medical, Inc. (NYSE:GMED) by 14.1% in the 4th quarter, HoldingsChannel reports. The firm owned 20,462 shares of the medical device company’s stock after purchasing an additional 2,534 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Globus Medical were worth $1,692,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GMED. Sequoia Financial Advisors LLC grew its position in Globus Medical by 4.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 75,253 shares of the medical device company’s stock valued at $6,224,000 after buying an additional 3,141 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Globus Medical by 2.4% in the 4th quarter. HighTower Advisors LLC now owns 40,002 shares of the medical device company’s stock worth $3,309,000 after acquiring an additional 935 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Globus Medical in the fourth quarter valued at approximately $6,845,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Globus Medical by 14.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,095 shares of the medical device company’s stock valued at $2,572,000 after acquiring an additional 3,828 shares during the period. Finally, Geneva Capital Management LLC raised its holdings in Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock worth $150,188,000 after purchasing an additional 217,707 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Globus Medical Stock Up 1.6 %

Shares of NYSE:GMED opened at $72.16 on Tuesday. The company’s fifty day moving average is $84.63 and its two-hundred day moving average is $79.80. The company has a market cap of $9.93 billion, a P/E ratio of 96.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93.

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, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Equities research analysts anticipate that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is available at this link. 18.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GMED has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Friday, February 21st. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $97.00 in a report on Thursday, January 9th. Wells Fargo & Company cut their price target on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Truist Financial increased their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globus Medical has an average rating of “Moderate Buy” and a consensus target price 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.