HB Wealth Management LLC Takes $301,000 Position in Globus Medical, Inc. (NYSE:GMED)

HB Wealth Management LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,634 shares of the medical device company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the period. Stephens Inc. AR lifted its position in Globus Medical by 3.4% in the third quarter. Stephens Inc. AR now owns 4,229 shares of the medical device company’s stock valued at $303,000 after purchasing an additional 138 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Globus Medical by 2.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,637 shares of the medical device company’s stock valued at $403,000 after purchasing an additional 140 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Globus Medical by 6.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock worth $268,000 after purchasing an additional 220 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Globus Medical by 1.5% during the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock worth $1,044,000 after buying an additional 228 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Globus Medical

In other Globus Medical 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 transaction of $1,250,804.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kelly Huller sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,667 shares of company stock worth $6,674,554. 18.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Truist Financial upped their price target on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Piper Sandler upped their target price on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price target on shares of Globus Medical from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Globus Medical currently has an average rating of “Moderate Buy” and a consensus price target of $96.91.

Globus Medical Stock Performance

Shares of NYSE GMED opened at $92.42 on Friday. The firm has a market cap of $12.59 billion, a P/E ratio of 137.94, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $93.67. The firm’s 50 day moving average price is $84.64 and its 200 day moving average price is $76.45.

Globus Medical (NYSE:GMED) last released its earnings results on Tuesday, November 5th. The medical device company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The firm had revenue of $625.71 million during the quarter, compared to analyst estimates of $604.69 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. As a group, equities analysts predict that Globus Medical, Inc. will post 2.98 EPS for the current year.

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.