Fielder Capital Group LLC Purchases Shares of 2,430 Globus Medical, Inc. (NYSE:GMED)

Fielder Capital Group LLC acquired a new position in Globus Medical, Inc. (NYSE:GMED) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,430 shares of the medical device company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently modified their holdings of GMED. ArrowMark Colorado Holdings LLC purchased a new position in shares of Globus Medical in the third quarter worth about $43,947,000. Lord Abbett & CO. LLC purchased a new position in Globus Medical in the 3rd quarter worth approximately $37,948,000. Parsifal Capital Management LP lifted its position in Globus Medical by 50.5% in the third quarter. Parsifal Capital Management LP now owns 1,350,553 shares of the medical device company’s stock valued at $96,619,000 after purchasing an additional 453,053 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Globus Medical during the third quarter valued at approximately $26,406,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Globus Medical by 29.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,238,603 shares of the medical device company’s stock worth $88,610,000 after purchasing an additional 285,172 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GMED. Morgan Stanley upgraded shares of Globus Medical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $83.00 to $100.00 in a report on Monday, December 2nd. Royal Bank of Canada raised their target price on Globus Medical from $80.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. BTIG Research boosted their price target on Globus Medical from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, December 12th. 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. Finally, Roth Mkm boosted their target price on Globus Medical from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

Insiders Place Their Bets

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

Globus Medical Stock Down 1.8 %

Shares of GMED stock opened at $78.55 on Friday. The business’s fifty day moving average is $86.51 and its 200 day moving average is $79.25. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 1.61 and a beta of 1.19. Globus Medical, Inc. has a twelve month low of $49.33 and a twelve month high of $94.93.

Globus Medical (NYSE:GMED) last released its 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 net margin of 4.09% and a return on equity of 10.83%. The firm had revenue of $657.29 million for the quarter, compared to the consensus estimate of $646.19 million. Equities research analysts expect that Globus Medical, Inc. will post 3.44 earnings per share for the current fiscal year.

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.