Globus Medical, Inc. (NYSE:GMED) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Globus Medical, Inc. (NYSE:GMED) by 16.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 678,492 shares of the medical device company’s stock after acquiring an additional 95,435 shares during the period. Thrivent Financial for Lutherans owned approximately 0.50% of Globus Medical worth $56,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in shares of Globus Medical by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,219 shares of the medical device company’s stock worth $447,000 after acquiring an additional 131 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of 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 acquiring an additional 132 shares during the period. US Bancorp DE lifted its stake in shares of Globus Medical by 3.2% in the 4th quarter. US Bancorp DE now owns 4,305 shares of the medical device company’s stock worth $356,000 after acquiring an additional 135 shares during the period. Berry Wealth Group LP lifted its stake in shares of Globus Medical by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 3,409 shares of the medical device company’s stock worth $282,000 after acquiring an additional 164 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Globus Medical by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,487 shares of the medical device company’s stock worth $288,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. BTIG Research increased their price target on shares of Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Canaccord Genuity Group increased their price target on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Globus Medical in a report on Tuesday. Finally, Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.09.

Globus Medical Trading Up 2.5 %

NYSE:GMED opened at $73.35 on Thursday. The firm has a 50-day moving average price of $84.13 and a two-hundred day moving average price of $79.75. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93. The company has a market capitalization of $10.09 billion, a P/E ratio of 97.80, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19.

Globus Medical (NYSE:GMED) last posted its 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 net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million during the quarter, compared to the consensus estimate of $646.19 million. On average, equities research analysts predict that Globus Medical, Inc. will post 3.44 earnings per share 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.