HPM Partners LLC purchased a new position in Globus Medical Inc (NYSE:GMED) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,137 shares of the medical device company’s stock, valued at approximately $211,000.
Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Globus Medical by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,183 shares of the medical device company’s stock worth $172,000 after buying an additional 1,183 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Globus Medical during the 3rd quarter worth approximately $177,000. First Interstate Bank grew its position in Globus Medical by 42.5% during the 4th quarter. First Interstate Bank now owns 4,321 shares of the medical device company’s stock worth $178,000 after purchasing an additional 1,288 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Globus Medical during the 3rd quarter worth approximately $187,000. Finally, Greenwood Capital Associates LLC purchased a new position in Globus Medical during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 65.92% of the company’s stock.
GMED has been the topic of several research analyst reports. BTIG Research set a $45.00 price objective on shares of Globus Medical and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Morgan Stanley set a $53.00 price objective on shares of Globus Medical and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Globus Medical from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, February 26th. ValuEngine upgraded shares of Globus Medical from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $53.00 price objective on shares of Globus Medical in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.57.
Shares of Globus Medical Inc (GMED) opened at $51.29 on Friday. The stock has a market cap of $4,968.18, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.44. Globus Medical Inc has a 52 week low of $27.74 and a 52 week high of $52.18.
Globus Medical (NYSE:GMED) last issued its earnings results on Wednesday, February 21st. The medical device company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $176.03 million during the quarter, compared to analyst estimates of $175.50 million. Globus Medical had a net margin of 16.88% and a return on equity of 13.93%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. equities research analysts anticipate that Globus Medical Inc will post 1.5 earnings per share for the current year.
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Globus Medical Profile
Globus Medical, Inc (Globus) is a medical device company focused on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. The Company is focused on implants that promote healing in patients with spine disorders. The Company’s products fall into one of two categories: Innovative Fusion or Disruptive Technologies.
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