Fielder Capital Group LLC Makes New $201,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Fielder Capital Group LLC purchased a new stake in shares of Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,430 shares of the medical device company’s stock, valued at approximately $201,000.

Several other institutional investors also recently modified their holdings of GMED. Quarry LP boosted its holdings in Globus Medical by 698.4% in the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after purchasing an additional 433 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the period. UMB Bank n.a. lifted its holdings in shares of Globus Medical by 60.2% during the 4th quarter. UMB Bank n.a. now owns 548 shares of the medical device company’s stock valued at $45,000 after buying an additional 206 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Globus Medical by 52.0% in the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after buying an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Globus Medical by 24.7% in the fourth quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after acquiring an additional 132 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Canaccord Genuity Group raised their target price on Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Piper Sandler raised their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Globus Medical from $80.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $83.00 to $100.00 in a research report on Monday, December 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.82.

Globus Medical Stock Down 1.8 %

Shares of Globus Medical stock opened at $78.55 on Friday. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 1.61 and a beta of 1.19. The stock’s 50-day simple moving average is $86.51 and its 200-day simple moving average is $79.25. Globus Medical, Inc. has a 52 week low of $49.33 and a 52 week high of $94.93.

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, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The company had revenue of $657.29 million for the quarter, compared to analysts’ expectations of $646.19 million. On average, equities analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at Globus Medical

In other Globus Medical news, SVP Kelly Huller sold 2,500 shares of Globus Medical stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Keith W. Pfeil sold 14,167 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 18.54% of the company’s stock.

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.