Motley Fool Asset Management LLC Raises Stock Holdings in Globus Medical, Inc. (NYSE:GMED)

Motley Fool Asset Management LLC raised its holdings in shares of Globus Medical, Inc. (NYSE:GMED) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 171,448 shares of the medical device company’s stock after purchasing an additional 15,240 shares during the quarter. Globus Medical accounts for 0.7% of Motley Fool Asset Management LLC’s holdings, making the stock its 28th biggest holding. Motley Fool Asset Management LLC’s holdings in Globus Medical were worth $14,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in shares of Globus Medical during the fourth quarter worth approximately $376,000. bLong Financial LLC bought a new position in Globus Medical in the fourth quarter worth approximately $397,000. Kathmere Capital Management LLC purchased a new position in Globus Medical during the 4th quarter worth $23,091,000. State Street Corp raised its position in Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock valued at $255,450,000 after purchasing an additional 81,371 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Globus Medical in the 4th quarter worth $301,000. Institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

GMED opened at $75.62 on Thursday. The firm has a fifty day moving average price of $81.05 and a 200 day moving average price of $80.02. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93. The stock has a market cap of $10.40 billion, a P/E ratio of 100.83, a P/E/G ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a net margin of 4.09% and a return on equity of 10.83%. The company had revenue of $657.29 million during the quarter, compared to analysts’ expectations of $646.19 million. Equities analysts expect that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages recently commented on GMED. Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Stifel Nicolaus boosted their price target on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their target price on Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. StockNews.com lowered shares of Globus Medical from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, BTIG Research lifted their price objective on shares of Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.09.

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.