Leith Wheeler Investment Counsel Ltd. Cuts Position in Globus Medical, Inc. (NYSE:GMED)

Leith Wheeler Investment Counsel Ltd. decreased its holdings in Globus Medical, Inc. (NYSE:GMED) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,470 shares of the medical device company’s stock after selling 6,204 shares during the quarter. Globus Medical comprises approximately 1.0% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 22nd biggest holding. Leith Wheeler Investment Counsel Ltd. owned about 0.12% of Globus Medical worth $14,017,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Globus Medical in the fourth quarter valued at $117,102,000. Raymond James Financial Inc. acquired a new stake in Globus Medical in the fourth quarter valued at $58,405,000. Lord Abbett & CO. LLC acquired a new stake in Globus Medical in the third quarter valued at $37,948,000. Marshall Wace LLP grew its holdings in Globus Medical by 74.9% in the fourth quarter. Marshall Wace LLP now owns 1,136,266 shares of the medical device company’s stock valued at $93,981,000 after purchasing an additional 486,756 shares during the last quarter. Finally, Kathmere Capital Management LLC acquired a new stake in Globus Medical in the fourth quarter valued at $23,091,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

GMED has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research note on Tuesday, March 18th. Truist Financial cut their price objective on shares of Globus Medical from $82.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company cut their price objective on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Barclays boosted their price objective on shares of Globus Medical from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Canaccord Genuity Group boosted their price objective on shares of Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.91.

Globus Medical Trading Down 0.3 %

Shares of GMED stock opened at $72.58 on Tuesday. The company has a market capitalization of $9.98 billion, a PE ratio of 96.77, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The firm has a fifty day simple moving average of $74.07 and a 200-day simple moving average of $80.17. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED) last announced 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. The business had revenue of $657.29 million during 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 predict that Globus Medical, Inc. will post 3.44 EPS 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.