one8zero8 LLC Acquires Shares of 4,544 Globus Medical, Inc. (NYSE:GMED)

one8zero8 LLC bought a new position in shares of Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,544 shares of the medical device company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GMED. State Street Corp boosted its holdings in Globus Medical by 2.3% in the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after buying an additional 81,371 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Globus Medical by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,885,061 shares of the medical device company’s stock worth $134,893,000 after acquiring an additional 21,935 shares during the last quarter. Geneva Capital Management LLC increased its position in shares of Globus Medical by 13.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,815,837 shares of the medical device company’s stock worth $150,188,000 after purchasing an additional 217,707 shares in the last quarter. Parsifal Capital Management LP increased its position in shares of Globus Medical by 50.5% during the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock worth $96,619,000 after purchasing an additional 453,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Globus Medical by 29.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock valued at $88,610,000 after purchasing an additional 285,172 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Trading Up 2.2 %

Shares of GMED opened at $71.21 on Monday. The company’s 50-day moving average price is $84.86 and its 200 day moving average price is $79.80. Globus Medical, Inc. has a 12-month low of $49.33 and a 12-month high of $94.93. The firm has a market cap of $9.79 billion, a P/E ratio of 94.94, a price-to-earnings-growth 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $657.29 million for 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%. Equities research analysts forecast that Globus Medical, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GMED shares. Canaccord Genuity Group upped their target price on shares of Globus Medical from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Truist Financial raised their target price on shares of Globus Medical from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Bank of America raised Globus Medical from an “underperform” rating to a “neutral” rating and increased their price target for the company from $80.00 to $97.00 in a report on Thursday, January 9th. Finally, Stifel Nicolaus boosted their price objective on Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Insider Buying and Selling

In other news, CFO Keith W. Pfeil sold 14,167 shares of Globus Medical stock in a transaction dated 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 at this hyperlink. 18.54% of the stock is owned by corporate 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.