51,330 Shares in Globus Medical, Inc. (NYSE:GMED) Purchased by Madison Investment Advisors LLC

Madison Investment Advisors LLC bought a new stake in Globus Medical, Inc. (NYSE:GMED) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 51,330 shares of the medical device company’s stock, valued at approximately $4,246,000.

A number of other large investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Globus Medical during the fourth quarter worth $27,000. Quarry LP increased its position 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 last quarter. UMB Bank n.a. raised its stake 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 purchasing an additional 206 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Globus Medical by 230.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 552 shares of the medical device company’s stock valued at $39,000 after buying an additional 385 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of 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 valued at $48,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GMED. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Friday, February 21st. Barclays raised their price target on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Morgan Stanley raised shares of Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $83.00 to $100.00 in a research note on Monday, December 2nd. Roth Mkm increased their target price on shares of Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, StockNews.com raised Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.82.

Globus Medical Stock Down 2.4 %

Shares of NYSE:GMED opened at $69.61 on Friday. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.61 and a beta of 1.19. The business has a 50 day moving average price of $85.09 and a 200 day moving average price of $79.69. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $646.19 million. Analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

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 that occurred 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 18.54% of the company’s stock.

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.