HighPoint Advisor Group LLC Raises Stock Position in Globus Medical, Inc. (NYSE:GMED)

HighPoint Advisor Group LLC lifted its position in shares of Globus Medical, Inc. (NYSE:GMED) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,446 shares of the medical device company’s stock after acquiring an additional 468 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Globus Medical were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. increased its holdings in Globus Medical by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock valued at $447,000 after acquiring an additional 131 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares in the last quarter. US Bancorp DE raised its position in shares of Globus Medical by 3.2% during the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after purchasing an additional 135 shares during the last quarter. Berry Wealth Group LP grew its holdings in Globus Medical by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock valued at $282,000 after buying an additional 164 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Globus Medical by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 the SEC website. 18.54% of the stock is owned by corporate insiders.

Globus Medical Price Performance

Globus Medical stock opened at $75.62 on Thursday. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 100.83, 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. The stock’s 50-day moving average is $81.05 and its 200-day moving average is $80.02.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to analyst estimates of $646.19 million. Research analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $97.00 in a research report on Thursday, January 9th. Wells Fargo & Company lowered 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. Barclays boosted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Canaccord Genuity Group lifted their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, StockNews.com downgraded Globus Medical from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.09.

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.