13,987 Shares in Globus Medical, Inc. (NYSE:GMED) Acquired by HUB Investment Partners LLC

HUB Investment Partners LLC purchased a new position in shares of Globus Medical, Inc. (NYSE:GMED) during the 4th quarter, Holdings Channel.com reports. The firm purchased 13,987 shares of the medical device company’s stock, valued at approximately $1,157,000.

Several other large investors have also made changes to their positions in GMED. SBI Securities Co. Ltd. acquired a new stake in shares of Globus Medical during the 4th quarter worth approximately $27,000. Quarry LP boosted its position in shares of Globus Medical by 698.4% during the 3rd quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after acquiring an additional 433 shares in the last quarter. UMB Bank n.a. boosted its position 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 worth $45,000 after acquiring an additional 206 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after acquiring an additional 197 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of 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 acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction on Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 18.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GMED has been the topic of several analyst reports. Barclays increased their price target on shares of Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Bank of America upgraded shares of Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $97.00 in a research report on Thursday, January 9th. Canaccord Genuity Group increased 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. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Finally, Truist Financial dropped their price objective on shares of Globus Medical from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.09.

Globus Medical Stock Performance

GMED stock opened at $73.86 on Friday. The company has a fifty day moving average price of $83.88 and a 200-day moving average price of $79.71. The company has a market capitalization of $10.16 billion, a P/E ratio of 98.48, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93.

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 during the quarter, compared to the consensus estimate of $646.19 million. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. As a group, sell-side analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.