Swiss National Bank Buys 2,200 Shares of Globus Medical, Inc. (NYSE:GMED)

Swiss National Bank lifted its stake in shares of Globus Medical, Inc. (NYSE:GMED) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 222,177 shares of the medical device company’s stock after acquiring an additional 2,200 shares during the quarter. Swiss National Bank’s holdings in Globus Medical were worth $18,376,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Globus Medical in the 4th quarter worth approximately $27,000. Quarry LP boosted 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 worth $35,000 after purchasing an additional 433 shares during the period. UMB Bank n.a. boosted its stake in Globus Medical by 60.2% in the 4th 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. V Square Quantitative Management LLC boosted its stake in 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 purchasing an additional 197 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Globus Medical by 24.7% in 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 period. 95.16% of the stock is currently owned by institutional investors.

Insider Activity at Globus Medical

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Stifel Nicolaus upped their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley upgraded Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $83.00 to $100.00 in a research note on Monday, December 2nd. Barclays increased their target price on Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Truist Financial lowered their target price on Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Stock Performance

NYSE:GMED opened at $71.63 on Wednesday. The stock’s fifty day moving average is $84.39 and its 200 day moving average is $79.79. Globus Medical, Inc. has a fifty-two week low of $49.33 and a fifty-two week high of $94.93. The firm has a market capitalization of $9.85 billion, a PE ratio of 95.50, a PEG ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $646.19 million. Equities analysts forecast that Globus Medical, Inc. will post 3.44 EPS for the current year.

Globus Medical 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.