Globus Medical, Inc. (NYSE:GMED) Shares Acquired by Swedbank AB

Swedbank AB increased its holdings in Globus Medical, Inc. (NYSE:GMED) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 475,489 shares of the medical device company’s stock after acquiring an additional 75,489 shares during the quarter. Swedbank AB’s holdings in Globus Medical were worth $39,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in shares of Globus Medical by 9.4% in the second quarter. Bank of Montreal Can now owns 18,619 shares of the medical device company’s stock valued at $1,275,000 after buying an additional 1,606 shares during the last quarter. AQR Capital Management LLC increased its position in Globus Medical by 1.5% in the 2nd quarter. AQR Capital Management LLC now owns 15,241 shares of the medical device company’s stock valued at $1,044,000 after acquiring an additional 228 shares during the period. Creative Planning raised its stake in Globus Medical by 16.8% during the 2nd quarter. Creative Planning now owns 6,157 shares of the medical device company’s stock valued at $422,000 after acquiring an additional 886 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Globus Medical during the 2nd quarter worth approximately $611,000. Finally, Central Pacific Bank Trust Division grew its stake in shares of Globus Medical by 6.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,751 shares of the medical device company’s stock valued at $268,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Globus Medical Price Performance

GMED opened at $93.17 on Friday. The stock’s 50 day simple moving average is $85.69 and its 200 day simple moving average is $77.25. The stock has a market cap of $12.69 billion, a P/E ratio of 139.06, a P/E/G ratio of 1.78 and a beta of 1.19. 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 earnings results on Tuesday, November 5th. The medical device company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.18. The company had revenue of $625.71 million for the quarter, compared to analyst estimates of $604.69 million. Globus Medical had a return on equity of 9.98% and a net margin of 3.69%. Globus Medical’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. Research analysts expect that Globus Medical, Inc. will post 2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GMED. BTIG Research upped their price target on Globus Medical from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Piper Sandler upped their price objective on shares of Globus Medical from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial lifted their target price on shares of Globus Medical from $85.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley raised Globus Medical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.91.

Insider Buying and Selling at Globus Medical

In other Globus Medical news, CFO Keith W. Pfeil sold 14,167 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $88.29, for a total transaction of $1,250,804.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel T. Scavilla sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $80.02, for a total value of $4,801,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 81,667 shares of company stock worth $6,674,554. 18.54% of the stock is owned by corporate insiders.

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.