HPM Partners LLC bought a new position in Globus Medical Inc (NYSE:GMED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,137 shares of the medical device company’s stock, valued at approximately $211,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GMED. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 purchasing an additional 1,183 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Globus Medical in the third quarter worth about $177,000. First Interstate Bank grew its stake in shares of Globus Medical by 42.5% in the fourth 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 during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Globus Medical in the third quarter worth about $187,000. Finally, Greenwood Capital Associates LLC bought a new stake in shares of Globus Medical in the fourth quarter worth about $204,000. 65.92% of the stock is currently owned by institutional investors.
In other news, VP Eric Schwartz sold 24,000 shares of Globus Medical stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $50.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the vice president now directly owns 24,000 shares in the company, valued at $1,200,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.21% of the stock is currently owned by company insiders.
Several analysts recently issued reports on the company. Zacks Investment Research raised Globus Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays reissued a “sell” rating and issued a $36.00 target price on shares of Globus Medical in a research note on Wednesday, January 10th. Wells Fargo reissued an “outperform” rating and issued a $51.00 target price (up from $46.00) on shares of Globus Medical in a research note on Wednesday, January 10th. Canaccord Genuity reissued a “positive” rating and issued a $53.00 target price (up from $47.00) on shares of Globus Medical in a research note on Thursday, February 22nd. Finally, Oppenheimer set a $49.00 price objective on Globus Medical and gave the company a “hold” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $51.56.
Globus Medical stock traded down $0.40 during trading hours on Friday, hitting $49.53. 530,287 shares of the stock traded hands, compared to its average volume of 503,599. The stock has a market cap of $4,812.05, a price-to-earnings ratio of 37.81, a PEG ratio of 2.76 and a beta of 0.42. Globus Medical Inc has a one year low of $27.79 and a one year high of $52.18.
Globus Medical (NYSE:GMED) last posted its quarterly earnings data on Wednesday, February 21st. The medical device company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $176.03 million for the quarter, compared to analysts’ expectations of $175.50 million. Globus Medical had a return on equity of 13.93% and a net margin of 16.88%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. equities analysts forecast that Globus Medical Inc will post 1.5 EPS 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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