Wealthspire Advisors LLC Makes New $225,000 Investment in Globus Medical, Inc. (NYSE:GMED)

Wealthspire Advisors LLC purchased a new position in Globus Medical, Inc. (NYSE:GMED) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,716 shares of the medical device company’s stock, valued at approximately $225,000.

Other large investors also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Globus Medical by 698.4% during the third quarter. Quarry LP now owns 495 shares of the medical device company’s stock worth $35,000 after buying an additional 433 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Globus Medical by 230.5% in the third 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. UMB Bank n.a. lifted its holdings in 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 during the last quarter. V Square Quantitative Management LLC lifted its holdings in Globus Medical by 52.0% during the 4th quarter. V Square Quantitative Management LLC now owns 576 shares of the medical device company’s stock worth $48,000 after purchasing an additional 197 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Globus Medical by 24.7% during the 4th quarter. First Horizon Advisors Inc. now owns 666 shares of the medical device company’s stock worth $55,000 after purchasing an additional 132 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GMED has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on Globus Medical from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Bank of America upgraded Globus Medical from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $97.00 in a research note on Thursday, January 9th. Canaccord Genuity Group lifted their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, January 10th. StockNews.com upgraded Globus Medical from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Barclays boosted their price objective on Globus Medical from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Globus Medical currently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

Globus Medical Price Performance

Shares of NYSE:GMED opened at $78.55 on Friday. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 104.74, a P/E/G ratio of 1.61 and a beta of 1.19. The business’s 50-day moving average is $86.51 and its 200-day moving average is $79.25. Globus Medical, Inc. has a 1 year low of $49.33 and a 1 year high of $94.93.

Globus Medical (NYSE:GMED) last posted its quarterly earnings results on Thursday, February 20th. The medical device company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Globus Medical had a return on equity of 10.83% and a net margin of 4.09%. The business had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Analysts anticipate that Globus Medical, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

In other news, SVP Kelly Huller sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $87.00, for a total value of $217,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith W. Pfeil sold 14,167 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $88.29, for a total value of $1,250,804.43. The disclosure for this sale can be found here. 18.54% of the stock is owned by company insiders.

About Globus Medical

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.