JPMorgan Chase & Co. Buys 199,556 Shares of Globus Medical, Inc. (NYSE:GMED)

JPMorgan Chase & Co. increased its position in shares of Globus Medical, Inc. (NYSE:GMED) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,804,330 shares of the medical device company’s stock after purchasing an additional 199,556 shares during the quarter. JPMorgan Chase & Co. owned 2.06% of Globus Medical worth $231,946,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Globus Medical by 338.4% during the 3rd quarter. FMR LLC now owns 38,723 shares of the medical device company’s stock worth $2,770,000 after acquiring an additional 29,890 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Globus Medical by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,170 shares of the medical device company’s stock valued at $20,830,000 after purchasing an additional 3,584 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Globus Medical by 7.1% in the 3rd quarter. Verition Fund Management LLC now owns 9,980 shares of the medical device company’s stock valued at $714,000 after purchasing an additional 665 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Globus Medical in the 3rd quarter valued at $1,541,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Globus Medical during the 3rd quarter worth $404,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on GMED. Barclays lifted their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $83.00 to $100.00 in a research report on Monday, December 2nd. Truist Financial lowered their price target on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Finally, Canaccord Genuity Group raised their price objective on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Globus Medical presently has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Trading Up 0.9 %

Shares of GMED stock opened at $73.18 on Tuesday. Globus Medical, Inc. has a 1-year low of $49.33 and a 1-year high of $94.93. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 97.57, a PEG ratio of 1.61 and a beta of 1.19. The stock has a 50-day moving average of $81.78 and a 200-day moving average of $80.02.

Globus Medical (NYSE:GMED) last released its earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $646.19 million. Sell-side analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $88.29, for a total value of $1,250,804.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 18.54% of the stock is currently owned by corporate 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.