HighPoint Advisor Group LLC Increases Position in Globus Medical, Inc. (NYSE:GMED)

HighPoint Advisor Group LLC increased its holdings in Globus Medical, Inc. (NYSE:GMED) by 11.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,446 shares of the medical device company’s stock after acquiring an additional 468 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Globus Medical were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oak Thistle LLC acquired a new position in shares of Globus Medical in the 4th quarter valued at approximately $376,000. bLong Financial LLC acquired a new stake in Globus Medical in the fourth quarter valued at $397,000. Kathmere Capital Management LLC bought a new position in Globus Medical during the 4th quarter valued at $23,091,000. State Street Corp grew its holdings in Globus Medical by 2.3% during the 3rd quarter. State Street Corp now owns 3,570,726 shares of the medical device company’s stock worth $255,450,000 after acquiring an additional 81,371 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of Globus Medical in the 4th quarter worth about $301,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Stock Up 3.0 %

Globus Medical stock opened at $75.62 on Thursday. Globus Medical, Inc. has a 52-week low of $49.33 and a 52-week high of $94.93. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 100.83, a PEG ratio of 1.61 and a beta of 1.19. The firm has a 50-day moving average price of $81.05 and a two-hundred day moving average price of $80.02.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GMED shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Globus Medical in a research report on Tuesday, March 18th. Roth Mkm increased their target price on Globus Medical from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Canaccord Genuity Group upped their price target on Globus Medical from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Stifel Nicolaus lifted their price objective on shares of Globus Medical from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company dropped their target price on shares of Globus Medical from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.09.

Insider Activity

In related news, CFO Keith W. Pfeil sold 14,167 shares of the firm’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 transaction of $1,250,804.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate 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.