KBC Group NV Increases Stock Position in Globus Medical, Inc. (NYSE:GMED)

KBC Group NV boosted its holdings in Globus Medical, Inc. (NYSE:GMED) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,183 shares of the medical device company’s stock after purchasing an additional 678 shares during the period. KBC Group NV’s holdings in Globus Medical were worth $3,820,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Globus Medical in the third quarter valued at $27,000. Quarry LP raised its stake in Globus Medical by 698.4% in the 3rd 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. Farther Finance Advisors LLC lifted its holdings in Globus Medical by 230.5% during the third quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 385 shares during the last quarter. UMB Bank n.a. boosted its position in Globus Medical by 60.2% during the fourth quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock worth $45,000 after purchasing an additional 206 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Globus Medical by 40.7% in the third quarter. GAMMA Investing LLC now owns 888 shares of the medical device company’s stock worth $64,000 after purchasing an additional 257 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $92.70 on Friday. The company’s fifty day moving average price is $85.85 and its 200-day moving average price is $77.36. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 138.36, a PEG ratio of 1.78 and a beta of 1.19. Globus Medical, Inc. has a one year low of $49.33 and a one year high of $94.93.

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 analysts’ consensus estimates of $0.65 by $0.18. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. The business had revenue of $625.71 million for the quarter, compared to analysts’ expectations of $604.69 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was up 63.1% on a year-over-year basis. As a group, equities research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $83.00 to $100.00 in a report on Monday, December 2nd. Wells Fargo & Company boosted their price objective on Globus Medical from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat.com, Globus Medical has a consensus rating of “Moderate Buy” and a consensus target price of $96.91.

Insider Buying and Selling

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kelly Huller sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.01, for a total transaction of $405,050.00. The disclosure for this sale can be found here. Insiders sold 81,667 shares of company stock worth $6,674,554 in the last quarter. 18.54% of the stock is owned by insiders.

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.