2,500 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Schiavi & Co LLC

Schiavi & Co LLC acquired a new stake in Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,500 shares of the medical device company’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical in the fourth quarter valued at approximately $27,000. Quarry LP lifted 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 acquiring an additional 433 shares during the period. UMB Bank n.a. boosted its holdings in Globus Medical by 60.2% in the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 206 shares during the last quarter. V Square Quantitative Management LLC increased its position in Globus Medical by 52.0% in the fourth quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in 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 during the last quarter. 95.16% of the stock is owned by institutional investors.

Globus Medical Stock Down 4.4 %

Shares of NYSE:GMED opened at $71.01 on Friday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 94.67, a PEG ratio of 1.61 and a beta of 1.28. Globus Medical, Inc. has a 12 month low of $49.33 and a 12 month high of $94.93. The company’s fifty day simple moving average is $77.58 and its 200 day simple moving average is $79.99.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GMED. Truist Financial reduced their target price on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company lowered their target price 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. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their target price for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Stifel Nicolaus boosted their target price on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Roth Mkm increased their price target on shares of Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.09.

Globus Medical Company 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.